Rothschild & Co Redburn Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its target price decreased by Rothschild & Co Redburn from $168.00 to $165.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the asset manager’s stock. Rothschild & Co Redburn’s price objective indicates a potential upside of 2.51% from the company’s current price.

Several other research firms have also commented on BX. BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. JMP Securities reissued a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a research report on Friday, October 24th. Citigroup lowered their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Evercore ISI cut their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. 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 has a consensus rating of “Hold” and a consensus price target of $177.25.

Blackstone Price Performance

Shares of BX stock traded up $2.26 during trading hours on Thursday, reaching $160.97. The company had a trading volume of 2,434,486 shares, compared to its average volume of 3,721,567. The stock has a fifty day moving average of $150.32 and a 200-day moving average of $161.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $118.87 billion, a price-to-earnings ratio of 45.99, a PEG ratio of 1.09 and a beta of 1.75. Blackstone has a 12-month low of $115.66 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Blackstone’s revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $1.02 earnings per share. On average, equities analysts anticipate that Blackstone will post 5.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 384,468 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was purchased at an average cost of $26.01 per share, with a total value of $10,000,012.68. Following the transaction, the insider directly owned 16,525,117 shares in the company, valued at $429,818,293.17. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the transaction, the insider directly owned 2,161 shares in the company, valued at approximately $21,610. This trade represents a 99.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 797,148 shares of company stock worth $24,050,153 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Institutional investors and hedge funds have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its stake in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Norges Bank acquired a new position in shares of Blackstone in the second quarter valued at approximately $1,071,348,000. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Close Asset Management Ltd increased its stake in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the period. Finally, Lazard Asset Management LLC raised its position in Blackstone by 31.9% during the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after buying an additional 919,773 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.