Barclays Cuts Blackstone (NYSE:BX) Price Target to $192.00

Blackstone (NYSE:BX) had its price target cut by Barclays from $199.00 to $192.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

BX has been the subject of several other reports. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. UBS Group boosted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Trading Up 3.4 %

Shares of NYSE:BX opened at $175.12 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $126.44 billion, a PE ratio of 60.18, a P/E/G ratio of 1.63 and a beta of 1.53. Blackstone has a 12-month low of $114.88 and a 12-month high of $200.96. The business’s fifty day simple moving average is $180.70 and its 200-day simple moving average is $157.59.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts predict that Blackstone will post 4.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone

A number of large investors have recently bought and sold shares of BX. Bangor Savings Bank increased its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth $27,000. Kieckhefer Group LLC purchased a new position in Blackstone during the fourth quarter valued at $39,000. Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.