Blackstone (NYSE:BX) Upgraded at JMP Securities

Blackstone (NYSE:BX) was upgraded by equities researchers at JMP Securities from a “market perform” rating to a “market outperform” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a $165.00 target price on the asset manager’s stock. JMP Securities’ price target points to a potential upside of 33.61% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Bank of America decreased their price target on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $165.94.

Blackstone Stock Down 0.9 %

Shares of BX traded down $1.15 during trading hours on Tuesday, reaching $123.50. The company’s stock had a trading volume of 4,830,981 shares, compared to its average volume of 4,322,148. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $90.08 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a 50 day moving average of $155.13 and a two-hundred day moving average of $166.95. Blackstone has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Blackstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the period. 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 purchasing an additional 444,887 shares during the period. Northern Trust Corp raised its holdings in Blackstone by 10.8% during the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock worth $1,209,707,000 after buying an additional 681,512 shares during the period. Invesco Ltd. boosted its holdings in shares of Blackstone by 6.6% in the fourth 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 period. Finally, Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter worth $974,448,000. 70.00% of the stock is owned by institutional investors.

Blackstone Company Profile

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.