Blackstone Group (NYSE:BX) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 10th. They currently have a $32.95 price objective on the asset manager’s stock. Vetr‘s price target points to a potential downside of 3.77% from the stock’s previous close.
Several other brokerages have also recently weighed in on BX. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Morgan Stanley raised their target price on shares of Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Bank of America raised their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $39.90.
Blackstone Group (NYSE:BX) opened at $34.24 on Wednesday. The firm has a market cap of $41,120.00, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.66 and a beta of 1.34. Blackstone Group has a 12-month low of $28.45 and a 12-month high of $37.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.73 billion. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. equities analysts forecast that Blackstone Group will post 3.1 EPS for the current year.
In related news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total value of $632,800.00. Following the sale, the insider now directly owns 87,852 shares of the company’s stock, valued at $2,779,637.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Group L.P. Blackstone bought 228,535 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was bought at an average cost of $29.63 per share, for a total transaction of $6,771,492.05. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Linscomb & Williams Inc. grew its holdings in shares of Blackstone Group by 0.8% in the second quarter. Linscomb & Williams Inc. now owns 9,182 shares of the asset manager’s stock worth $306,000 after purchasing an additional 69 shares during the last quarter. Gofen & Glossberg LLC IL boosted its holdings in Blackstone Group by 1.3% in the second quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock valued at $282,000 after acquiring an additional 110 shares in the last quarter. Highlander Capital Management LLC boosted its holdings in Blackstone Group by 0.8% in the second quarter. Highlander Capital Management LLC now owns 31,550 shares of the asset manager’s stock valued at $1,045,000 after acquiring an additional 250 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in Blackstone Group by 6.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 9,700 shares of the asset manager’s stock valued at $323,000 after acquiring an additional 600 shares in the last quarter. Finally, Bank of Hawaii boosted its holdings in Blackstone Group by 5.9% in the second quarter. Bank of Hawaii now owns 14,301 shares of the asset manager’s stock valued at $477,000 after acquiring an additional 793 shares in the last quarter. Institutional investors and hedge funds own 48.08% of the company’s stock.
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About Blackstone Group
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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