The Blackstone Group Inc. (NYSE:BX) has earned an average recommendation of "Buy" from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $80.10.
BX has been the subject of a number of analyst reports. Zacks Investment Research raised The Blackstone Group from a "hold" rating to a "strong-buy" rating and set a $100.00 price target for the company in a report on Tuesday, April 27th. Barclays increased their price target on The Blackstone Group from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, April 19th. Argus raised their price target on The Blackstone Group from $82.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, April 27th. Morgan Stanley lifted their target price on The Blackstone Group from $90.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on The Blackstone Group from $66.00 to $76.00 and gave the company a "hold" rating in a report on Friday, April 23rd.
In related news, major shareholder Lifesciences Iii L.P. Clarus bought 30,000 shares of the stock in a transaction on Tuesday, May 11th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $510,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 36,000 shares of the stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $90.57, for a total transaction of $3,260,520.00. Following the completion of the transaction, the insider now owns 327,489 shares in the company, valued at approximately $29,660,678.73. The disclosure for this sale can be found here. Insiders have sold a total of 10,026,235 shares of company stock valued at $318,310,923 over the last quarter. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in BX. Howe & Rusling Inc. purchased a new stake in The Blackstone Group during the 1st quarter valued at approximately $25,000. Charter Oak Capital Management LLC purchased a new position in shares of The Blackstone Group in the fourth quarter valued at $26,000. Atlas Private Wealth Advisors purchased a new position in shares of The Blackstone Group in the first quarter valued at $30,000. Mascoma Wealth Management LLC purchased a new position in shares of The Blackstone Group in the first quarter valued at $31,000. Finally, Valley Brook Capital Group purchased a new position in shares of The Blackstone Group in the fourth quarter valued at $34,000. 60.72% of the stock is owned by institutional investors.
BX opened at $97.13 on Friday. The firm's 50-day moving average price is $88.50. The company has a market capitalization of $66.46 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.31 and a beta of 1.35. The Blackstone Group has a fifty-two week low of $49.26 and a fifty-two week high of $99.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09.
The Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.72 by $0.24. The Blackstone Group had a net margin of 26.66% and a return on equity of 15.52%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $0.46 EPS. As a group, analysts predict that The Blackstone Group will post 3.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 10th. Shareholders of record on Monday, May 3rd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, April 30th. This represents a $3.28 annualized dividend and a yield of 3.38%. The Blackstone Group's payout ratio is presently 123.77%.
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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