Blackstone (NYSE:BX) Price Target Cut to $137.00 by Analysts at Citigroup

Blackstone (NYSE:BX) had its price objective reduced by research analysts at Citigroup from $190.00 to $137.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. Citigroup’s price target suggests a potential upside of 14.49% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. JMP Securities raised shares of Blackstone from a “market perform” rating to a “market outperform” rating and set a $165.00 target price on the stock in a research report on Tuesday. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $163.00.

Blackstone Trading Down 4.0 %

NYSE:BX traded down $4.99 during mid-day trading on Tuesday, reaching $119.67. The company’s stock had a trading volume of 11,538,561 shares, compared to its average volume of 3,611,305. The stock has a market cap of $87.29 billion, a P/E ratio of 32.97, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone has a twelve month low of $115.66 and a twelve month high of $200.96. 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 company’s fifty day simple moving average is $155.13 and its two-hundred day simple moving average is $166.95.

Blackstone (NYSE:BX) last announced 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 net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts predict that Blackstone will post 5.87 EPS for the current year.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently modified their holdings of BX. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new position in Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC bought a new position in shares of Blackstone during the 4th quarter worth about $34,000. Institutional investors and hedge funds 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.