Blackstone (NYSE:BX) Price Target Lowered to $199.00 at Jefferies Financial Group

Blackstone (NYSE:BX) had its price objective lowered by research analysts at Jefferies Financial Group from $207.00 to $199.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 18.41% from the company’s previous close.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price objective on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI lifted their price objective on Blackstone from $165.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.83.

Blackstone Stock Performance

NYSE:BX opened at $168.06 on Tuesday. The firm has a market cap of $123.87 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. Blackstone has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The business has a 50 day moving average price of $173.61 and a 200-day moving average price of $153.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities research analysts predict that Blackstone will post 5.87 earnings per share for the current year.

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares in the company, valued at $128,015,742.72. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several institutional investors have recently modified their holdings of BX. Brighton Jones LLC raised its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after buying an additional 2,035 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Blackstone by 3.8% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,029 shares of the asset manager’s stock worth $423,000 after acquiring an additional 112 shares in the last quarter. Courier Capital LLC increased its holdings in Blackstone by 15.5% in the first quarter. Courier Capital LLC now owns 4,559 shares of the asset manager’s stock worth $637,000 after buying an additional 613 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its holdings in Blackstone by 8.9% in the first quarter. Moss Adams Wealth Advisors LLC now owns 2,641 shares of the asset manager’s stock worth $369,000 after purchasing an additional 216 shares in the last quarter. Finally, City Holding Co. boosted its position in Blackstone by 22.5% during the first quarter. City Holding Co. now owns 872 shares of the asset manager’s stock worth $122,000 after purchasing an additional 160 shares during the period. 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.