Fintel reports that on July 21, 2023, JP Morgan downgraded their outlook for Blackstone (NYSE:BX) from Overweight to Neutral.

Analyst Price Forecast Suggests 4.35% Downside

As of July 6, 2023, the average one-year price target for Blackstone is 102.83. The forecasts range from a low of 85.85 to a high of $120.75. The average price target represents a decrease of 4.35% from its latest reported closing price of 107.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Blackstone is 13,032MM, an increase of 104.24%. The projected annual non-GAAP EPS is 5.40.

What is the Fund Sentiment?

There are 2073 funds or institutions reporting positions in Blackstone. This is a decrease of 54 owner(s) or 2.54% in the last quarter. Average portfolio weight of all funds dedicated to BX is 0.54%, a decrease of 2.45%. Total shares owned by institutions increased in the last three months by 0.56% to 536,296K shares. The put/call ratio of BX is 0.88, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 32,194K shares representing 4.56% ownership of the company. In it’s prior filing, the firm reported owning 30,412K shares, representing an increase of 5.54%. The firm increased its portfolio allocation in BX by 21.53% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 21,997K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 21,342K shares, representing an increase of 2.98%. The firm increased its portfolio allocation in BX by 12.68% over the last quarter.

Capital International Investors holds 21,206K shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 21,203K shares, representing an increase of 0.01%. The firm increased its portfolio allocation in BX by 13.48% over the last quarter.

Edgewood Management holds 15,283K shares representing 2.16% ownership of the company. In it’s prior filing, the firm reported owning 11,425K shares, representing an increase of 25.24%. The firm increased its portfolio allocation in BX by 42.68% over the last quarter.

Wellington Management Group Llp holds 12,609K shares representing 1.79% ownership of the company. In it’s prior filing, the firm reported owning 15,703K shares, representing a decrease of 24.54%. The firm decreased its portfolio allocation in BX by 6.04% over the last quarter.

Blackstone Background Information
(This description is provided by the company.)

Blackstone is one of the world’s leading investment firms. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. It does this by using extraordinary people and flexible capital to help companies solve problems. its $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

This article originally appeared on Fintel

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