Blackstone Group L.P. (BX) PT Lowered to $31.00
Blackstone Group L.P. (NYSE:BX) had its price target dropped by investment analysts at Barclays PLC from $33.00 to $31.00 in a note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price objective would suggest a potential upside of 30.91% from the company’s previous close.
BX has been the subject of a number of other reports. Vetr lowered Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $28.90 target price for the company. in a research report on Thursday, June 23rd. Zacks Investment Research raised Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Bank of America Corp. reaffirmed a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Deutsche Bank AG decreased their target price on Blackstone Group L.P. from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, June 16th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $35.00 target price on shares of Blackstone Group L.P. in a research report on Monday, September 19th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Blackstone Group L.P. has an average rating of “Buy” and an average target price of $33.84.
Shares of Blackstone Group L.P. (NYSE:BX) opened at 23.68 on Thursday. The firm has a 50-day moving average price of $25.75 and a 200 day moving average price of $26.38. Blackstone Group L.P. has a 1-year low of $22.31 and a 1-year high of $34.71. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 49.96 and a beta of 1.57.
Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The firm earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $0.43 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Blackstone Group L.P. will post $2.06 EPS for the current fiscal year.
In related news, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total value of $304,865.00. Following the sale, the insider now owns 42,967 shares of the company’s stock, valued at approximately $1,139,055.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Huntington National Bank boosted its stake in shares of Blackstone Group L.P. by 17.0% in the second quarter. Huntington National Bank now owns 4,687 shares of the company’s stock worth $115,000 after buying an additional 682 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Blackstone Group L.P. during the second quarter worth about $125,000. TCI Wealth Advisors Inc. boosted its stake in shares of Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock worth $125,000 after buying an additional 51 shares during the last quarter. Adirondack Trust Co. boosted its stake in shares of Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock worth $128,000 after buying an additional 36 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock worth $132,000 after buying an additional 2,565 shares during the last quarter. 49.05% of the stock is currently owned by institutional investors and hedge funds.
About Blackstone Group L.P.
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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