Shares of Blackstone Group LP (NYSE:BX) have earned an average rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $38.28.
A number of research analysts have recently issued reports on BX shares. Credit Suisse Group reduced their price target on shares of Blackstone Group from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target on the stock. in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Morgan Stanley raised their price target on shares of Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Finally, Bank of America raised their price target on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th.
Shares of Blackstone Group (NYSE BX) opened at $31.99 on Thursday. The firm has a market cap of $38,320.00, a price-to-earnings ratio of 11.44, a P/E/G ratio of 0.57 and a beta of 1.37. Blackstone Group has a fifty-two week low of $26.65 and a fifty-two week high of $35.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.
In related news, insider John G. Finley sold 800 shares of Blackstone Group stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the sale, the insider now directly owns 87,852 shares in the company, valued at approximately $2,811,264. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 20,000 shares of Blackstone Group stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the completion of the sale, the insider now owns 87,852 shares in the company, valued at $2,779,637.28. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of BX. Honeywell International Inc. increased its stake in Blackstone Group by 37.0% during the 3rd quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock valued at $34,017,000 after buying an additional 275,400 shares during the period. Baldwin Investment Management LLC increased its stake in Blackstone Group by 1.8% during the 2nd quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock valued at $382,000 after buying an additional 200 shares during the period. Artemis Investment Management LLP increased its stake in Blackstone Group by 91.9% during the 2nd quarter. Artemis Investment Management LLP now owns 2,147,762 shares of the asset manager’s stock valued at $71,618,000 after buying an additional 1,028,755 shares during the period. Banque Pictet & Cie SA acquired a new position in Blackstone Group during the 2nd quarter valued at about $1,668,000. Finally, Sandy Spring Bank increased its stake in Blackstone Group by 93.4% during the 3rd quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock valued at $487,000 after buying an additional 7,050 shares during the period. Hedge funds and other institutional investors own 46.40% 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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