Blackstone (NYSE:BX) Price Target Cut to $130.00 by Analysts at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn lowered Blackstone’s price target from $134 to $130 and kept a neutral rating, implying about 8.77% upside from the current share price.
• Other analysts were mixed: several firms initiated or maintained buy/outperform views, while UBS cut its target to $137; MarketBeat data shows a consensus Hold rating with an average price target of $150.86.
• Blackstone recently reported better-than-expected EPS of $1.36 on revenue of $3.43 billion, while insiders and institutions continued to trade the stock heavily, with 70% of shares held by hedge funds and other institutional investors.

Blackstone (NYSE:BX - Get Free Report) had its price objective reduced by equities researchers at Rothschild & Co Redburn from $134.00 to $130.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has a "neutral" rating on the asset manager's stock. Rothschild & Co Redburn's price target points to a potential upside of 8.77% from the stock's current price.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada began coverage on shares of Blackstone in a research note on Monday. They issued an "outperform" rating for the company. Sanford C. Bernstein began coverage on shares of Blackstone in a research report on Monday. They set an "outperform" rating on the stock. UBS Group reduced their price objective on Blackstone from $171.00 to $137.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a research report on Monday. They issued a "buy" rating on the stock. Finally, Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $150.86.

Blackstone Stock Performance

BX stock opened at $119.52 on Tuesday. The business's fifty day simple moving average is $119.31 and its two-hundred day simple moving average is $131.52. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market cap of $88.79 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.25 and a beta of 1.59. Blackstone has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm earned $1.11 EPS. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts predict that Blackstone will post 5.9 earnings per share for the current year.

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the purchase, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. This represents a 18.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 12,355,303 shares of company stock worth $264,789,896 in the last ninety days. Company insiders own 1.00% of the company's stock.

Institutional Trading of Blackstone

Several large investors have recently added to or reduced their stakes in BX. Vanguard Group Inc. boosted its stake in Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager's stock worth $11,046,859,000 after buying an additional 840,258 shares during the period. Morgan Stanley increased its stake in shares of Blackstone by 2.0% during the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager's stock worth $5,065,374,000 after buying an additional 636,613 shares during the period. State Street Corp increased its position in shares of Blackstone by 0.6% in the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager's stock valued at $4,861,885,000 after purchasing an additional 179,213 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Blackstone by 3.4% during the first quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager's stock worth $1,326,762,000 after purchasing an additional 384,264 shares in the last quarter. Finally, Norges Bank purchased a new position in Blackstone in the fourth quarter valued at $1,275,747,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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