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

Blackstone (NYSE:BX) had its price objective decreased by equities research analysts at Citizens Jmp from $190.00 to $165.00 in a report released on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the asset manager’s stock. Citizens Jmp’s target price suggests a potential upside of 34.17% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Argus lowered their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Barclays cut their price target on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Thursday. Jefferies Financial Group boosted their price objective on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Evercore reiterated an “outperform” rating and set a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group reduced their price objective on Blackstone from $116.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.10.

Blackstone Stock Up 0.7%

NYSE BX opened at $122.97 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $91.35 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The stock’s 50 day simple moving average is $119.72 and its 200 day simple moving average is $126.95. Blackstone has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results 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. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company posted $1.11 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackstone will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Redwood Financial Network Corp grew its position in shares of Blackstone by 1.8% in the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after purchasing an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC boosted its stake in Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the period. Parcion Private Wealth LLC grew its holdings in Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 70 shares in the last quarter. Trivium Point Advisory LLC lifted its holdings in shares of Blackstone by 2.6% during the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management boosted its position in shares of Blackstone by 2.1% in the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after acquiring an additional 71 shares during the period. 70.00% of the stock is owned by institutional investors.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Citizens JMP lifted its price target on Blackstone to $165 from $190 and kept an “outperform” view, signaling confidence that the shares still have meaningful upside from current levels. Blackstone (NYSE:BX) Given New $165.00 Price Target at Citizens Jmp
• Positive Sentiment: Blackstone and TPG are reportedly seeking more than $4 billion for Hologic’s surgical unit, underscoring continued private-equity dealmaking activity and potential value creation from large asset sales or acquisitions. Blackstone, TPG seek over $4 billion for Hologic’s surgical unit, FT says
• Positive Sentiment: Reports that Barclays is preparing roughly $875 million of debt financing tied to a Blackstone takeover highlight active transaction flow that can support fees and investment returns for the firm. Market Chatter: Barclays Readies $875 Million Debt Sale for Blackstone’s Senior Takeover
• Neutral Sentiment: Barclays cut Blackstone’s price target to $119 from $124 and kept an “equal weight” rating, reflecting a more cautious near-term view even as the target remains close to the current share price. Blackstone (NYSE:BX) Price Target Lowered to $119.00 at Barclays
• Neutral Sentiment: A separate report said Apollo and Blackstone helped turn Broadcom’s and Anthropic’s AI chip financing into debt for other investors, which is notable but not directly a clear positive or negative catalyst for BX shares. Apollo and Blackstone just turned Broadcom, Anthropic’s AI chip bet into somebody else’s debt

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.