Blackstone (NYSE:BX) Price Target Lowered to $161.00 at Jefferies Financial Group

Blackstone (NYSE:BX) had its price target lowered by research analysts at Jefferies Financial Group from $185.00 to $161.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the asset manager’s stock. Jefferies Financial Group’s target price suggests a potential upside of 21.83% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Argus decreased their price target on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Barclays decreased their target price on shares of Blackstone from $171.00 to $164.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th. Piper Sandler decreased their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. Citigroup restated a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and an average target price of $173.68.

Blackstone Stock Performance

NYSE:BX opened at $132.16 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.76. The firm has a market cap of $97.59 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.01 and a beta of 1.76. Blackstone has a 52-week low of $115.66 and a 52-week high of $190.09. The business’s fifty day moving average is $151.61 and its 200 day moving average is $159.15.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. Blackstone’s revenue was up 41.4% compared to the same quarter last year. During the same period last year, the business earned $1.69 earnings per share. Research analysts predict that Blackstone will post 5.87 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the purchase, the insider directly owned 16,332,883 shares in the company, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone

Hedge funds have recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after acquiring an additional 177 shares during the last quarter. CWM LLC increased its position in Blackstone by 18.9% in the second quarter. CWM LLC now owns 52,843 shares of the asset manager’s stock worth $7,904,000 after purchasing an additional 8,410 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Blackstone by 17.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 177,795 shares of the asset manager’s stock worth $27,162,000 after buying an additional 26,902 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Blackstone by 52.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,290 shares of the asset manager’s stock worth $193,000 after acquiring an additional 446 shares during the last quarter. 70.00% of the stock is currently owned by 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.