Blackstone Group (NYSE:BX) had its price target hoisted by Deutsche Bank from $42.00 to $45.00 in a report issued on Friday morning, 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 BX. ValuEngine raised Alleghany from a hold rating to a buy rating in a research report on Friday, April 19th. Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a research report on Thursday, April 25th. Morgan Stanley lowered their target price on Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating on the stock in a research report on Tuesday, July 9th. Finally, JMP Securities began coverage on Fiverr International in a research report on Monday, July 8th. They set an outperform rating and a $33.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $45.83.
Shares of BX stock opened at $45.63 on Friday. The firm has a 50 day moving average of $44.17. Blackstone Group has a one year low of $26.88 and a one year high of $47.93. The company has a market capitalization of $30.06 billion, a PE ratio of 20.19, a PEG ratio of 1.04 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Blackstone Group had a return on equity of 11.28% and a net margin of 20.51%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was down 43.5% on a year-over-year basis. Sell-side analysts predict that Blackstone Group will post 2.21 earnings per share for the current year.
The firm also recently disclosed a dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be paid a $0.48 dividend. The ex-dividend date is Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is presently 65.49%.
In other news, major shareholder Holdings L.P. Blackstone III purchased 120,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $24.22 per share, for a total transaction of $2,906,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bennett J. Goodman sold 115,000 shares of the stock in a transaction on 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 transaction, the director now owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The disclosure for this sale can be found here. Insiders have bought a total of 683,752 shares of company stock valued at $16,541,188 in the last quarter. 1.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Resources Investment Advisors Inc. boosted its stake in Blackstone Group by 606.0% in the 1st quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock worth $25,000 after purchasing an additional 606 shares during the period. Sound Income Strategies LLC boosted its stake in Blackstone Group by 69.4% in the 1st quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after purchasing an additional 300 shares during the period. Investors Research Corp bought a new position in Blackstone Group in the 1st quarter worth about $28,000. Meridian Wealth Management LLC purchased a new stake in shares of Blackstone Group in the 1st quarter valued at about $32,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Blackstone Group by 194.0% in the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 683 shares in the last quarter. Institutional investors and hedge funds 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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