Blackstone (NYSE:BX) Price Target Raised to $179.00 at HSBC

Key Points

• HSBC raised Blackstone's price target from $170.00 to $179.00, indicating a potential upside of 9.47% from the stock's previous closing price.
• The stock has a consensus rating of "Moderate Buy" with a target price of $180.26, supported by ratings from multiple analysts.
• Recent insider trades show significant selling activity, with Director Joseph Baratta selling 113,000 shares for about $19.85 million.

Blackstone (NYSE:BX - Get Free Report) had its price target increased by HSBC from $170.00 to $179.00 in a note issued to investors on Wednesday,MarketScreener reports. HSBC's price target indicates a potential upside of 9.47% from the stock's previous close.

Other research analysts have also issued reports about the stock. Citigroup decreased their price objective on shares of Blackstone from $185.00 to $170.00 and set a "neutral" rating for the company in a report on Monday. BNP Paribas Exane boosted their price target on shares of Blackstone from $166.00 to $178.00 and gave the company a "neutral" rating in a report on Monday, September 29th. BMO Capital Markets began coverage on shares of Blackstone in a research report on Friday, October 3rd. They issued an "outperform" rating and a $190.00 target price for the company. Jefferies Financial Group cut their target price on shares of Blackstone from $207.00 to $199.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $160.00 to $177.00 and gave the company a "neutral" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.26.

Blackstone Price Performance

Blackstone stock opened at $163.51 on Wednesday. The company has a fifty day simple moving average of $172.11 and a 200-day simple moving average of $154.56. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock has a market cap of $120.52 billion, a P/E ratio of 43.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.77.

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

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 113,000 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares in the company, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 21,500 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company's stock, valued at $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its holdings in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after buying an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. raised its position in Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager's stock valued at $10,394,670,000 after purchasing an additional 1,494,796 shares in the last quarter. Geode Capital Management LLC raised its position in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager's stock valued at $2,462,706,000 after purchasing an additional 227,416 shares in the last quarter. Norges Bank purchased a new position in shares of Blackstone in the 2nd quarter valued at $1,071,348,000. Finally, Goldman Sachs Group Inc. grew its stake in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock worth $739,761,000 after buying an additional 742,829 shares during the last quarter. 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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