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

Blackstone (NYSE:BX) had its price objective increased by analysts at JPMorgan Chase & Co. from $122.00 to $142.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.98% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Argus lowered their price target on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Evercore reduced their price objective on Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, January 21st. UBS Group reduced their price target on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, Barclays reduced their target price on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Eleven 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, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $156.45.

Blackstone Stock Performance

Blackstone stock opened at $130.30 on Friday. The stock has a market cap of $96.71 billion, a PE ratio of 33.78, a P/E/G ratio of 1.35 and a beta of 1.74. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The business’s 50-day moving average price is $117.15 and its two-hundred day moving average price is $140.12.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same period last year, the company posted $1.69 EPS. As a group, analysts expect that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the company’s stock in a transaction on Friday, March 20th. The shares were bought at an average price of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the purchase, the insider owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This represents a 18.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BX. Norges Bank bought a new stake in shares of Blackstone in the fourth quarter worth about $1,275,747,000. Capital Research Global Investors lifted its position in Blackstone by 99.2% during the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after purchasing an additional 3,178,133 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Blackstone by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock worth $12,100,868,000 after purchasing an additional 1,335,060 shares in the last quarter. Amundi increased its position in Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock worth $417,620,000 after purchasing an additional 1,249,269 shares during the last quarter. Finally, Close Asset Management Ltd raised its holdings in Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.