Blackstone Group (NYSE:BX) had its price objective hoisted by Deutsche Bank from $42.00 to $45.00 in a report published on Friday, BenzingaRatingsTable reports. They currently have a hold rating on the asset manager’s stock.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a research note on Thursday, April 25th. Morgan Stanley dropped their price objective on Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating for the company in a research note on Tuesday, July 9th. JMP Securities initiated coverage on Fiverr International in a research note on Monday, July 8th. They issued an outperform rating and a $33.00 price objective for the company. Finally, ValuEngine raised Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Blackstone Group presently has a consensus rating of Buy and a consensus price target of $45.83.
NYSE:BX opened at $45.63 on Friday. The firm’s 50-day moving average is $44.17. Blackstone Group has a 52-week low of $26.88 and a 52-week high of $47.93. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.04 and a beta of 1.47.
The company also recently announced a dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is 65.49%.
In related news, Director Bennett J. Goodman sold 115,000 shares of Blackstone Group stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $39.58, for a total value of $4,551,700.00. Following the completion of the transaction, the director now owns 250,000 shares in the company, valued at approximately $9,895,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone III purchased 120,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $23.92 per share, with a total value of $2,878,963.36. The disclosure for this purchase can be found here. Insiders purchased a total of 683,752 shares of company stock valued at $16,541,188 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in shares of Blackstone Group by 49.9% during the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock worth $738,740,000 after purchasing an additional 7,030,805 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Blackstone Group by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 7,126,851 shares of the asset manager’s stock worth $249,226,000 after purchasing an additional 97,896 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Blackstone Group by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 6,506,362 shares of the asset manager’s stock worth $227,527,000 after purchasing an additional 31,642 shares during the last quarter. Fairview Capital Investment Management LLC boosted its holdings in shares of Blackstone Group by 3.8% during the 1st quarter. Fairview Capital Investment Management LLC now owns 3,895,275 shares of the asset manager’s stock worth $136,217,000 after purchasing an additional 143,875 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Blackstone Group by 1.9% during the 1st quarter. Neuberger Berman Group LLC now owns 3,806,889 shares of the asset manager’s stock worth $133,127,000 after purchasing an additional 69,545 shares during the last quarter. Hedge funds and other institutional investors own 47.26% of the company’s stock.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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