Blackstone (NYSE:BX) Given New $160.00 Price Target at Wells Fargo & Company

Blackstone (NYSE:BX) had its price target decreased by research analysts at Wells Fargo & Company from $180.00 to $160.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.58% from the company’s previous close.

BX has been the subject of several other reports. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.13.

Blackstone Stock Down 0.7 %

BX stock traded down $1.00 during mid-day trading on Thursday, reaching $148.72. The company had a trading volume of 1,979,523 shares, compared to its average volume of 3,259,265. 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 stock has a 50 day simple moving average of $164.36 and a two-hundred day simple moving average of $167.16. The company has a market capitalization of $108.48 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 1.07 and a beta of 1.55. Blackstone has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the last quarter. State Street Corp grew its position in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock valued at $2,637,266,000 after buying an additional 444,887 shares during the last quarter. Northern Trust Corp grew its position in shares of Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock valued at $1,209,707,000 after buying an additional 681,512 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Blackstone by 6.6% in the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock valued at $1,032,400,000 after buying an additional 371,677 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

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.