Blackstone’s (BX) “Equal Weight” Rating Reiterated at Barclays

Blackstone (NYSE:BX)‘s stock had its “equal weight” rating reissued by analysts at Barclays in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $125.00 price objective on the asset manager’s stock, down from their prior price objective of $129.00. Barclays‘s price target suggests a potential upside of 3.92% from the company’s previous close.

BX has been the subject of a number of other reports. UBS Group increased their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Bank of America raised their price objective on shares of Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Finally, BMO Capital Markets lifted their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $119.97.

Blackstone Stock Performance

Shares of BX stock opened at $120.28 on Friday. Blackstone has a 1 year low of $79.92 and a 1 year high of $133.56. The firm has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.01 and a beta of 1.51. The stock’s 50-day moving average is $126.66 and its two-hundred day moving average is $117.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm’s revenue was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Analysts predict that Blackstone will post 4.88 earnings per share for the current year.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. In the last three months, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

A number of hedge funds have recently bought and sold shares of the business. RMB Capital Management LLC raised its position in shares of Blackstone by 1.9% in the 4th quarter. RMB Capital Management LLC now owns 4,531 shares of the asset manager’s stock valued at $593,000 after purchasing an additional 86 shares in the last quarter. Mather Group LLC. raised its position in shares of Blackstone by 1.2% in the 1st quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock valued at $931,000 after purchasing an additional 87 shares in the last quarter. Fragasso Group Inc. raised its position in shares of Blackstone by 2.9% in the 1st quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock valued at $428,000 after purchasing an additional 91 shares in the last quarter. UNIVEST FINANCIAL Corp raised its position in shares of Blackstone by 2.9% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock valued at $435,000 after purchasing an additional 95 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its position in shares of Blackstone by 3.8% in the 4th quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock valued at $339,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.