Blackstone Inc. (NYSE:BX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Blackstone Inc. (NYSE:BX) have been assigned an average rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $177.25.

Several research firms recently weighed in on BX. Bank of America cut their price objective on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. BMO Capital Markets cut their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Piper Sandler dropped their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Morgan Stanley increased their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price objective on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th.

Insider Transactions at Blackstone

In other Blackstone news, Director James Breyer purchased 13,900 shares of the stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ruth Porat bought 324 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares in the company, valued at $5,741,192.84. This represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 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

Several large investors have recently modified their holdings of the stock. REAP Financial Group LLC bought a new position in shares of Blackstone during the 3rd quarter worth approximately $26,000. Traub Capital Management LLC bought a new position in shares of Blackstone during the second quarter valued at $27,000. Family CFO Inc bought a new stake in shares of Blackstone in the 2nd quarter worth about $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the fourth quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth approximately $30,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

Shares of Blackstone stock opened at $150.47 on Friday. The stock has a market capitalization of $111.11 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 1.06 and a beta of 1.75. Blackstone has a 1-year low of $115.66 and a 1-year high of $190.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $152.31 and a 200-day simple moving average of $161.36.

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

About Blackstone

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.