Blackstone (NYSE:BX) Price Target Lowered to $176.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered Blackstone's price target from $177.00 to $176.00, maintaining a "neutral" rating, indicating a potential upside of 12.39% from the previous close.
• Other analysts have varied opinions on Blackstone, with Jefferies lowering their target to $199.00, while BNP Paribas Exane raised theirs to $178.00, reflecting a mixed outlook.
• Blackstone's stock rose 1.0% during Friday's trading, reaching $156.60, with its market cap currently valued at approximately $115.42 billion.

Blackstone (NYSE:BX - Get Free Report) had its price objective dropped by JPMorgan Chase & Co. from $177.00 to $176.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 12.39% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Blackstone from $207.00 to $199.00 and set a "buy" rating on the stock in a report on Tuesday, October 7th. BNP Paribas Exane lifted their target price on shares of Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a research note on Monday, September 29th. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. Evercore ISI lowered their target price on shares of Blackstone from $197.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of "Moderate Buy" and an average target price of $182.16.

Blackstone Stock Up 1.0%

NYSE BX traded up $1.62 during trading on Friday, reaching $156.60. 460,803 shares of the company's stock traded hands, compared to its average volume of 4,110,625. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $115.42 billion, a price-to-earnings ratio of 42.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.77. The company's 50 day simple moving average is $170.54 and its two-hundred day simple moving average is $155.53. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $2.49 billion for the quarter. As a group, sell-side analysts forecast that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Transactions at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider owned 7,506,209 shares in the company, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares of the company's stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone

Large investors have recently modified their holdings of the business. 1248 Management LLC purchased a new stake in shares of Blackstone during the first quarter worth $25,000. Traub Capital Management LLC acquired a new position in shares of Blackstone during the 2nd quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new position in shares of Blackstone during the 1st quarter valued at about $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone during the 1st quarter valued at about $28,000. Finally, Anderson Financial Strategies LLC acquired a new position in Blackstone in the first quarter valued at about $28,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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