Blackstone (NYSE:BX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Blackstone (NYSE:BX) had its price target boosted by investment analysts at Royal Bank Of Canada from $161.00 to $169.00 in a research note issued on Friday, MarketBeat.com reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 30.29% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Barclays boosted their price target on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, HSBC reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Blackstone in a research report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.76.

Blackstone Stock Up 4.2%

BX stock opened at $129.72 on Friday. Blackstone has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a market cap of $96.36 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.41 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $120.33 and a two-hundred day moving average price of $124.84.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Analysts anticipate that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. The trade was a 10.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 10,252,345 shares of company stock valued at $209,789,893 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of 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 buying an additional 840,258 shares in the last quarter. Morgan Stanley grew its position in Blackstone by 2.0% during the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock worth $5,065,374,000 after buying an additional 636,613 shares in the last quarter. State Street Corp raised its holdings in Blackstone by 0.6% in the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after acquiring an additional 179,213 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 valued at $1,326,762,000 after acquiring an additional 384,264 shares during the period. Finally, Norges Bank bought a new position in shares of Blackstone in the fourth quarter worth $1,275,747,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

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.