JPMorgan Chase & Co. Issues Positive Forecast for Blackstone (NYSE:BX) Stock Price

Key Points

• JPMorgan Chase & Co. has increased its price target for Blackstone's stock from $160.00 to $177.00, indicating an expected upside of 11.57%.
• Blackstone has an average analyst rating of Moderate Buy and a consensus target price of $180.33.
• The firm reported earnings of $0.97 per share and revenue of $2.49 billion in their latest quarterly results.

Blackstone (NYSE:BX - Get Free Report) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $160.00 to $177.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 11.57% from the company's previous close.

Several other equities research analysts have also recently weighed in on BX. The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. BMO Capital Markets began coverage on shares of Blackstone in a research report on Friday, October 3rd. They set an "outperform" rating and a $190.00 target price on the stock. Jefferies Financial Group lowered their target price 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. Barclays dropped their target price on shares of Blackstone from $181.00 to $171.00 and set an "equal weight" rating for the company in a report on Wednesday, October 8th. Finally, TD Cowen cut their target price 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 analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $180.33.

Blackstone Stock Up 0.3%

Shares of BX opened at $158.64 on Tuesday. The business's fifty day moving average price is $172.29 and its two-hundred day moving average price is $154.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $116.93 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 1.25 and a beta of 1.77. Blackstone has a 52 week low of $115.66 and a 52 week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business 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%. On average, analysts predict that Blackstone will post 5.87 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,727,877 shares of company stock valued at $95,046,625 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Traub Capital Management LLC acquired a new stake in Blackstone during the second quarter valued at approximately $27,000. 1248 Management LLC acquired a new stake in shares of Blackstone during the first quarter valued at approximately $25,000. Family CFO Inc acquired a new stake in shares of Blackstone during the second quarter valued at approximately $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the first quarter valued at approximately $28,000. Finally, Anderson Financial Strategies LLC acquired a new position in Blackstone in the 1st quarter valued at approximately $28,000. 70.00% of the stock is owned by institutional investors and hedge funds.

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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