UBS Group Issues Positive Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price target upped by analysts at UBS Group from $170.00 to $180.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. UBS Group’s price target would indicate a potential upside of 3.13% from the stock’s current price.

Several other equities research analysts have also issued reports on BX. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley increased their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of Blackstone stock traded down $2.57 on Monday, hitting $174.54. The company had a trading volume of 891,672 shares, compared to its average volume of 2,955,344. Blackstone has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a market cap of $126.02 billion, a PE ratio of 47.96, a PEG ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business has a 50-day simple moving average of $180.15 and a 200-day simple moving average of $162.63.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts expect that Blackstone will post 5.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently bought and sold shares of BX. Glen Eagle Advisors LLC increased its holdings in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its position in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.