JPMorgan Chase & Co. Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $136.00 to $132.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.97% from the company’s previous close.

A number of other brokerages have also weighed in on BX. TD Cowen decreased their price objective on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a report on Monday, June 8th. They issued a “buy” rating for the company. Sanford C. Bernstein initiated coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Finally, Oppenheimer upped their target price on Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus target price of $145.52.

Blackstone Price Performance

Shares of BX stock opened at $126.96 on Thursday. The stock has a 50 day moving average price of $119.92 and a 200 day moving average price of $125.90. The firm has a market capitalization of $94.32 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.39 and a beta of 1.58. 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 released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. As a group, sell-side analysts predict that Blackstone will post 5.89 earnings per share for the current year.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 355 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,252,345 shares of company stock valued at $209,789,893 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after acquiring an additional 840,258 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Blackstone by 2.0% during the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after purchasing an additional 636,613 shares during the last quarter. State Street Corp boosted its position in shares of Blackstone by 0.6% in the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after purchasing an additional 179,213 shares in the last quarter. Bank of America Corp DE grew its stake in Blackstone by 3.4% during the 1st quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager’s stock worth $1,326,762,000 after buying an additional 384,264 shares during the last quarter. Finally, Norges Bank purchased a new stake in Blackstone in the fourth quarter valued at about $1,275,747,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

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.