Blackstone Group LP (NYSE:BX) Receives Average Rating of “Hold” from Brokerages

Shares of Blackstone Group LP (NYSE:BX) have been given a consensus recommendation of “Hold” by the twelve analysts that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.86.

BX has been the topic of several recent analyst reports. Oppenheimer cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. Citigroup cut shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, September 18th. They noted that the move was a valuation call. BMO Capital Markets initiated coverage on shares of Blackstone Group in a research report on Monday. They set a “market perform” rating and a $44.00 price objective on the stock. ValuEngine cut shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank lifted their price objective on shares of Blackstone Group from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, July 19th.

NYSE BX traded up $0.86 on Wednesday, reaching $46.47. 2,837,171 shares of the stock were exchanged, compared to its average volume of 5,561,053. Blackstone Group has a one year low of $26.88 and a one year high of $55.17. The firm has a market capitalization of $30.02 billion, a PE ratio of 20.56, a PEG ratio of 0.99 and a beta of 1.45. The company’s 50-day simple moving average is $50.10 and its two-hundred day simple moving average is $44.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.82.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.90 EPS. The firm’s revenue was down 43.5% compared to the same quarter last year. Sell-side analysts forecast that Blackstone Group will post 2.31 earnings per share for the current fiscal year.

In other news, insider Joan Solotar sold 25,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the completion of the sale, the insider now directly owns 235,803 shares of the company’s stock, valued at $12,693,275.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Striano sold 7,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $48.23, for a total transaction of $337,610.00. Following the sale, the insider now directly owns 36,186 shares of the company’s stock, valued at $1,745,250.78. The disclosure for this sale can be found here. Over the last three months, insiders have bought 694,319 shares of company stock valued at $5,581,544 and have sold 9,161,966 shares valued at $300,689,747. 1.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Valley National Advisers Inc. lifted its stake in Blackstone Group by 1.0% in the second quarter. Valley National Advisers Inc. now owns 23,348 shares of the asset manager’s stock worth $1,037,000 after acquiring an additional 233 shares during the period. Ashfield Capital Partners LLC raised its holdings in Blackstone Group by 0.7% in the second quarter. Ashfield Capital Partners LLC now owns 33,573 shares of the asset manager’s stock worth $1,491,000 after purchasing an additional 242 shares in the last quarter. Cottage Street Advisors LLC raised its holdings in Blackstone Group by 0.3% in the second quarter. Cottage Street Advisors LLC now owns 75,450 shares of the asset manager’s stock worth $3,351,000 after purchasing an additional 247 shares in the last quarter. BB&T Corp raised its holdings in Blackstone Group by 2.3% in the second quarter. BB&T Corp now owns 10,949 shares of the asset manager’s stock worth $486,000 after purchasing an additional 250 shares in the last quarter. Finally, Girard Partners LTD. raised its holdings in Blackstone Group by 4.0% in the second quarter. Girard Partners LTD. now owns 7,546 shares of the asset manager’s stock worth $335,000 after purchasing an additional 291 shares in the last quarter. 47.07% of the stock is owned by hedge funds and other institutional investors.

About Blackstone Group

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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Analyst Recommendations for Blackstone Group (NYSE:BX)

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