Oppenheimer Lowers Blackstone (NYSE:BX) Price Target to $139.00

Blackstone (NYSE:BX) had its price target lowered by analysts at Oppenheimer from $156.00 to $139.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price objective would suggest a potential upside of 9.48% from the company’s current price.

Several other analysts have also recently issued reports on BX. Weiss Ratings cut Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Royal Bank Of Canada lowered their price target on Blackstone from $173.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Morgan Stanley reduced their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a report on Monday, June 8th. They set a “buy” rating on the stock. Finally, Citizens Jmp decreased their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.52.

Blackstone Trading Down 1.6%

BX opened at $126.96 on Friday. The stock has a market capitalization of $94.32 billion, a PE ratio of 32.47, a P/E/G ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The firm’s fifty day moving average price is $119.92 and its 200 day moving average price is $125.90.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that Blackstone will post 5.89 EPS for the current fiscal year.

Insider Activity at Blackstone

In related news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 10,252,345 shares of company stock valued at $209,789,893. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Blackstone in the fourth quarter worth about $1,275,747,000. Capital Research Global Investors raised its position in shares of Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock worth $983,690,000 after buying an additional 3,178,133 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Blackstone in the first quarter valued at approximately $164,597,000. Amundi increased its stake in shares of Blackstone by 85.6% during the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after acquiring an additional 1,249,269 shares during the period. Finally, Focus Partners Wealth lifted its position in Blackstone by 476.1% in the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock worth $204,193,000 after purchasing an additional 1,094,307 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

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.