JMP Securities Reaffirms "Market Outperform" Rating for Blackstone (NYSE:BX)

Key Points

• JMP Securities has reaffirmed a "Market Outperform" rating for Blackstone (NYSE:BX) with a price target of $195.00, indicating a potential upside of 25.59% from its current price.
• Other analysts have set varied targets for Blackstone, with BMO Capital Markets at $190.00, while Bank of America lowered theirs to $199.00, reflecting a mix of ratings from Strong Buy to Hold.
• Blackstone's stock is currently trading around $155.26, having experienced a 4.0% decline recently, while institutional investors maintain a strong presence, owning 70% of the company's shares.

Blackstone (NYSE:BX - Get Free Report)'s stock had its "market outperform" rating reiterated by JMP Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $195.00 price target on the asset manager's stock. JMP Securities' price objective would indicate a potential upside of 25.59% from the company's current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets initiated coverage on shares of Blackstone in a report on Friday, October 3rd. They set an "outperform" rating and a $190.00 target price for the company. Bank of America lowered their target price on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on Blackstone from $194.00 to $188.00 and set a "buy" rating for the company in a research report on Thursday, October 9th. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a report on Tuesday, August 12th. Finally, TD Cowen dropped their price target on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of "Moderate Buy" and an average price target of $182.79.

Blackstone Trading Down 4.0%

Shares of BX stock opened at $155.26 on Friday. The stock has a market capitalization of $114.44 billion, a P/E ratio of 41.74, a P/E/G ratio of 1.32 and a beta of 1.77. 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 firm's 50 day moving average is $170.54 and its 200 day 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 released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Research analysts expect that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 453,836 shares of the company's stock, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director owned 695,757 shares of the company's stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Blackstone

Several institutional investors have recently modified their holdings of BX. Arcus Capital Partners LLC lifted its position in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager's stock worth $739,000 after buying an additional 58 shares during the last quarter. Mattern Wealth Management LLC lifted its stake in Blackstone by 2.8% in the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager's stock worth $331,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Blackstone by 3.5% during the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager's stock valued at $267,000 after buying an additional 61 shares during the last quarter. Sage Rhino Capital LLC raised its holdings in shares of Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager's stock worth $1,202,000 after buying an additional 63 shares during the period. Finally, WNY Asset Management LLC boosted its holdings in Blackstone by 1.7% during the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager's stock valued at $576,000 after acquiring an additional 64 shares during the period. 70.00% of the stock is owned by institutional investors.

About Blackstone

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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