Blackstone (NYSE:BX) Stock Rating Upgraded by UBS Group

Blackstone (NYSE:BX) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $180.00 price objective on the asset manager’s stock. UBS Group’s price target would suggest a potential upside of 27.65% from the stock’s previous close.

BX has been the subject of several other reports. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. lifted their target price 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, Keefe, Bruyette & Woods raised their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

NYSE BX opened at $141.01 on Monday. 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 has a fifty day moving average price of $165.90 and a 200-day moving average price of $167.21. Blackstone has a 1 year low of $115.82 and a 1 year high of $200.96. The firm has a market cap of $102.86 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55.

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

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost 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 $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aljian Capital Management LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC grew its stake in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Wealthcare Capital Partners LLC purchased a new stake in Blackstone during the fourth quarter valued at approximately $2,102,000. Highland Capital Management LLC boosted its stake in shares of Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares during the period. 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.