Blackstone (NYSE:BX) Given New $152.00 Price Target at Jefferies Financial Group

Blackstone (NYSE:BX) had its target price lifted by stock analysts at Jefferies Financial Group from $143.00 to $152.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the asset manager’s stock. Jefferies Financial Group’s price target suggests a potential upside of 25.45% from the company’s current price.

Other analysts also recently issued research reports about the company. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. BMO Capital Markets lifted their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. HSBC decreased their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Oppenheimer boosted their target price on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Barclays dropped their price objective on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $151.36.

Blackstone Trading Down 0.2%

Shares of NYSE BX opened at $121.17 on Tuesday. The stock has a market cap of $89.93 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.35 and a beta of 1.63. The business has a 50 day simple moving average of $116.50 and a 200 day simple moving average of $135.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 EPS. On average, research analysts predict that Blackstone will post 5.91 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of Blackstone stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at $487,129,914.25. This trade represents a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 9,103,660 shares of company stock worth $45,982,920. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of hedge funds have recently modified their holdings of BX. CMC Financial Group acquired a new stake in shares of Blackstone during the 1st quarter worth about $471,000. Oslo Pensjonsforsikring AS bought a new stake in Blackstone during the first quarter worth about $45,000. Andra AP fonden increased its holdings in shares of Blackstone by 265.5% during the first quarter. Andra AP fonden now owns 61,400 shares of the asset manager’s stock worth $7,060,000 after buying an additional 44,600 shares in the last quarter. Wilkerson Advisory Group LLC boosted its holdings in shares of Blackstone by 105.9% in the 1st quarter. Wilkerson Advisory Group LLC now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 144 shares in the last quarter. Finally, AlTi Global Inc. increased its holdings in Blackstone by 36.7% during the 1st quarter. AlTi Global Inc. now owns 5,682 shares of the asset manager’s stock valued at $653,000 after purchasing an additional 1,524 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.