Shares of Blackstone Group LP (NYSE:BX) hit a new 52-week high on Tuesday . The stock traded as high as $58.76 and last traded at $58.68, with a volume of 426892 shares traded. The stock had previously closed at $58.43.
Several research analysts have recently weighed in on the company. Barclays reaffirmed a “buy” rating and set a $62.00 target price on shares of Blackstone Group in a research note on Wednesday, December 11th. BMO Capital Markets assumed coverage on Blackstone Group in a research note on Monday, October 7th. They set a “market perform” rating and a $44.00 target price for the company. Citigroup downgraded Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Wednesday, September 18th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 target price (up from $57.00) on shares of Blackstone Group in a research note on Friday, October 25th. Finally, Deutsche Bank upped their target price on Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.13.
The company has a 50 day moving average of $55.12 and a 200 day moving average of $50.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $38.06 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.13 and a beta of 1.44.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Blackstone Group had a return on equity of 7.61% and a net margin of 27.05%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $0.63 EPS. The firm’s revenue was down 9.9% compared to the same quarter last year. On average, equities analysts predict that Blackstone Group LP will post 2.29 EPS for the current fiscal year.
In other Blackstone Group news, major shareholder Blackstone Group Inc sold 8,875,211 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $2.50, for a total value of $22,188,027.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Hamilton E. James sold 280,046 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $51.73, for a total value of $14,486,779.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,608,103 shares of company stock valued at $311,151,291. 1.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Burt Wealth Advisors purchased a new position in shares of Blackstone Group during the 3rd quarter worth $26,000. Lenox Wealth Advisors LLC purchased a new position in shares of Blackstone Group during the 3rd quarter worth $28,000. Hartford Financial Management Inc. purchased a new position in shares of Blackstone Group during the 3rd quarter worth $30,000. TCI Wealth Advisors Inc. purchased a new position in shares of Blackstone Group during the 3rd quarter worth $32,000. Finally, Advocacy Wealth Management Services LLC acquired a new position in Blackstone Group during the 3rd quarter worth about $34,000. Institutional investors own 53.37% of the company’s stock.
Blackstone Group Company Profile (NYSE:BX)
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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