Blackstone (NYSE:BX) Price Target Raised to $169.00 at Wells Fargo & Company

Blackstone (NYSE:BX) had its price objective lifted by equities research analysts at Wells Fargo & Company from $163.00 to $169.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 14.14% from the company’s current price.

Several other brokerages also recently commented on BX. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday. Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Morgan Stanley lifted their price target on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $133.41.

Blackstone Stock Down 0.9 %

Shares of NYSE:BX traded down $1.37 during midday trading on Wednesday, hitting $148.07. 592,667 shares of the company’s stock were exchanged, compared to its average volume of 3,418,125. Blackstone has a 12 month low of $88.59 and a 12 month high of $161.25. The company has a market cap of $105.82 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day moving average price of $142.95 and a 200-day moving average price of $131.69.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, sell-side analysts anticipate that Blackstone will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new position in Blackstone in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone during the second quarter valued at approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone in the third quarter worth $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter valued at $29,000. 70.00% of the stock is currently owned by institutional investors.

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.