Blackstone (NYSE:BX) Price Target Lowered to $183.00 at TD Cowen

Blackstone (NYSE:BX) had its price target dropped by analysts at TD Cowen from $205.00 to $183.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 17.13% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price target on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. BNP Paribas Exane reduced their price objective on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Morgan Stanley lifted their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, BMO Capital Markets lowered their target price on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.58.

Blackstone Price Performance

Shares of Blackstone stock traded up $0.99 during midday trading on Wednesday, hitting $156.24. 617,573 shares of the company were exchanged, compared to its average volume of 3,597,844. The firm has a market cap of $115.38 billion, a P/E ratio of 44.60, a PEG ratio of 1.10 and a beta of 1.75. Blackstone has a 52 week low of $115.66 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $150.04 and a 200-day simple moving average of $161.18.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.14 billion. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. Research analysts forecast that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares in the company, valued at $21,610. The trade was a 99.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Breyer bought 13,900 shares of the stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 797,148 shares of company stock valued at $24,050,153. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of hedge funds have recently modified their holdings of BX. REAP Financial Group LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at $26,000. Traub Capital Management LLC acquired a new position in Blackstone during the 2nd quarter worth approximately $27,000. Family CFO Inc acquired a new position in shares of Blackstone during the 2nd quarter worth $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone in the third quarter valued at about $30,000. Finally, Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.