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

Blackstone (NYSE:BX) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $176.00 to $158.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.99% from the stock’s previous close.

A number of other research firms have also weighed in on BX. Jefferies Financial Group reduced their target price on Blackstone from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, January 8th. UBS Group decreased their target price on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Rothschild & Co Redburn cut their price target on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Morgan Stanley increased their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada set a $195.00 target price on Blackstone in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $176.86.

Blackstone Stock Performance

Shares of BX stock opened at $142.35 on Friday. Blackstone has a 12 month low of $115.66 and a 12 month high of $190.09. The stock has a market capitalization of $105.12 billion, a P/E ratio of 36.69, a PEG ratio of 1.01 and a beta of 1.75. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $153.03 and its 200 day moving average is $160.81.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business’s quarterly revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, sell-side analysts anticipate that Blackstone will post 5.87 earnings per share for the current year.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the purchase, the insider directly owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares in the company, valued at approximately $21,610. This represents a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 783,978 shares of company stock valued at $22,058,454 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of institutional investors have recently made changes to their positions in BX. Norges Bank purchased a new stake in Blackstone during the 2nd quarter valued at $1,071,348,000. Vanguard Group Inc. raised its stake in shares of Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the last quarter. Close Asset Management Ltd grew its stake in shares of Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after purchasing an additional 1,133,197 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Blackstone by 31.9% during the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock valued at $568,902,000 after purchasing an additional 919,773 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock worth $162,861,000 after buying an additional 583,384 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Trending Headlines about Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 beat — Blackstone reported EPS of $1.75 and revenue of $4.36B, both topping estimates; record AUM and large inflows underpinned results and demonstrate momentum in deals, fees and infrastructure. Read More.
• Positive Sentiment: Dividend hike — BX declared a quarterly dividend of $1.49 (15.5% increase vs. prior quarter), implying a ~4.2% yield and signaling management confidence and stronger cash return to shareholders. (Company release)
• Positive Sentiment: Bullish analyst notes — TD Cowen reaffirmed a “buy” and set a $183 target; Citizens Jmp kept a “market outperform” with a $195 target, both signaling sizable upside from current levels. Read More.
• Neutral Sentiment: Management/sector commentary — Blackstone highlighted AI-related investment as a major economic driver and continues to signal interest in data-center and infrastructure opportunities, which is strategic but longer-term. Read More.
• Neutral Sentiment: Investor event scheduled — CFO Michael Chae will present at the BofA Financial Services Conference on Feb 10; investors should watch the webcast for additional color on capital deployment and fee trends. Read More.
• Negative Sentiment: Analyst target cuts to neutral — JPMorgan trimmed its target from $176 to $158 and moved to “neutral,” signaling less conviction on near-term upside. Read More.
• Negative Sentiment: Goldman trims target — Goldman cut its PT from $166 to $158 and maintained a “neutral” stance, adding to the pushback from some sell-side desks despite the beat. Read More.

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.