Rothschild & Co Redburn Cuts Blackstone (NYSE:BX) Price Target to $158.00

Blackstone (NYSE:BX) had its price target lowered by investment analysts at Rothschild & Co Redburn from $165.00 to $158.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Rothschild & Co Redburn’s target price would suggest a potential upside of 13.29% from the stock’s previous close.

Other research analysts also recently issued reports about the company. TD Cowen reiterated a “buy” rating and issued a $183.00 price target on shares of Blackstone in a report on Friday. BMO Capital Markets cut their price objective on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Piper Sandler set a $158.00 price target on Blackstone in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $175.33.

Blackstone Trading Down 2.1%

Shares of Blackstone stock traded down $2.95 during trading on Monday, hitting $139.47. 300,604 shares of the company were exchanged, compared to its average volume of 3,854,213. The firm’s fifty day moving average price is $153.03 and its 200 day moving average price is $160.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. Blackstone has a 1-year low of $115.66 and a 1-year high of $190.09. The firm has a market capitalization of $102.99 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.Blackstone’s revenue was up 41.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. As a group, sell-side analysts expect that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the purchase, the insider directly owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. The trade was a 2.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 783,978 shares of company stock valued at $22,058,454 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC grew its position in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Blackstone by 6.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,043 shares of the asset manager’s stock valued at $4,494,000 after acquiring an additional 1,841 shares during the last quarter. MBL Wealth LLC purchased a new stake in shares of Blackstone in the second quarter worth approximately $238,000. Finally, OLD National Bancorp IN lifted its stake in shares of Blackstone by 746.0% during the 2nd quarter. OLD National Bancorp IN now owns 51,977 shares of the asset manager’s stock worth $7,775,000 after purchasing an additional 45,833 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

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.