Citizens Jmp Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its target price reduced by research analysts at Citizens Jmp from $190.00 to $165.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the asset manager’s stock. Citizens Jmp’s price objective points to a potential upside of 36.47% from the company’s previous close.

Several other research analysts have also commented on the stock. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Oppenheimer upped their price target on Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Argus lowered their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. BMO Capital Markets upped their target price on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, HSBC lowered their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Blackstone Trading Up 1.9%

Shares of NYSE:BX opened at $120.91 on Thursday. The company has a market capitalization of $89.82 billion, a PE ratio of 30.86, a P/E/G ratio of 1.31 and a beta of 1.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The business’s fifty day simple moving average is $119.64 and its 200-day simple moving average is $127.19.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. As a group, equities research analysts predict that Blackstone will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the acquisition, the director owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blackstone

Several institutional investors and hedge funds have recently modified their holdings of BX. Jain Global LLC purchased a new stake in Blackstone during the 3rd quarter worth approximately $9,116,000. Fayez Sarofim & Co increased its position in shares of Blackstone by 1.9% during the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after purchasing an additional 24,237 shares in the last quarter. Mackenzie Financial Corp raised its stake in Blackstone by 2.1% in the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares during the last quarter. Greenup Street Wealth Management LLC boosted its stake in Blackstone by 1,034.3% during the 4th quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock worth $2,149,000 after purchasing an additional 12,711 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Blackstone by 9.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock valued at $15,561,000 after buying an additional 8,321 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.