The Blackstone Group Inc. (NYSE:BX) insider John Finley sold 33,404 shares of the business’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $89.88, for a total value of $3,002,351.52. Following the completion of the transaction, the insider now directly owns 363,489 shares of the company’s stock, valued at approximately $32,670,391.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of The Blackstone Group stock traded up $1.80 during trading on Friday, reaching $90.13. The company had a trading volume of 92,801 shares, compared to its average volume of 2,943,463. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 82.55 and a beta of 1.33. The firm’s fifty day moving average is $79.14 and its 200-day moving average is $67.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The Blackstone Group Inc. has a fifty-two week low of $47.80 and a fifty-two week high of $90.42.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Wednesday, April 21st. The asset manager reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.24. During the same quarter in the prior year, the company posted $0.46 EPS. On average, research analysts anticipate that The Blackstone Group Inc. will post 2.45 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC acquired a new stake in The Blackstone Group during the fourth quarter valued at approximately $1,394,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in The Blackstone Group during the fourth quarter valued at approximately $11,606,000. Arrow Capital Management LLC acquired a new stake in The Blackstone Group during the fourth quarter valued at approximately $13,099,000. Crestwood Advisors Group LLC raised its stake in The Blackstone Group by 0.3% during the 1st quarter. Crestwood Advisors Group LLC now owns 807,069 shares of the asset manager’s stock valued at $60,151,000 after purchasing an additional 2,200 shares during the period. Finally, Global Retirement Partners LLC grew its stake in The Blackstone Group by 8.0% during the 4th quarter. Global Retirement Partners LLC now owns 72,667 shares of the asset manager’s stock valued at $4,710,000 after acquiring an additional 5,401 shares in the last quarter. 59.77% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on BX shares. Piper Sandler assumed coverage on The Blackstone Group in a report on Thursday, January 14th. They issued an “overweight” rating and a $71.00 price target for the company. Oppenheimer restated a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Zacks Investment Research upgraded The Blackstone Group from a “hold” rating to a “strong-buy” rating and set a $100.00 price target for the company in a research report on Tuesday, April 27th. BMO Capital Markets upped their price target on The Blackstone Group from $63.00 to $72.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. Finally, Morgan Stanley upped their price target on The Blackstone Group from $90.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The Blackstone Group has an average rating of “Buy” and an average target price of $76.83.
The Blackstone Group Company Profile
The Blackstone Group 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.
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