Analysts Set The Blackstone Group Inc. (NYSE:BX) Target Price at $100.90

The Blackstone Group Inc. (NYSE:BX) has earned an average recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $102.60.

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. upped their price objective on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. Argus upped their price objective on The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 23rd. Morgan Stanley upped their price objective on The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, July 20th. Finally, Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a research note on Tuesday.

In other news, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $129.00, for a total transaction of $476,397.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The shares were acquired at an average cost of $16.00 per share, with a total value of $2,400,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 508,477 shares of company stock valued at $40,210,412 over the last three months. 1.00% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of BX. State Street Corp boosted its stake in The Blackstone Group by 112.9% in the 2nd quarter. State Street Corp now owns 14,683,567 shares of the asset manager’s stock worth $1,426,362,000 after purchasing an additional 7,786,660 shares during the period. BlackRock Inc. boosted its stake in The Blackstone Group by 31.6% in the 2nd quarter. BlackRock Inc. now owns 30,579,280 shares of the asset manager’s stock worth $2,970,472,000 after purchasing an additional 7,339,615 shares during the period. GQG Partners LLC boosted its stake in The Blackstone Group by 98.2% in the 2nd quarter. GQG Partners LLC now owns 4,863,229 shares of the asset manager’s stock worth $472,277,000 after purchasing an additional 2,409,492 shares during the period. Deutsche Bank AG boosted its stake in The Blackstone Group by 266.8% in the 2nd quarter. Deutsche Bank AG now owns 2,974,044 shares of the asset manager’s stock worth $288,899,000 after purchasing an additional 2,163,243 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in The Blackstone Group by 315.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,610,403 shares of the asset manager’s stock worth $253,574,000 after purchasing an additional 1,981,633 shares during the period. Institutional investors own 63.16% of the company’s stock.

BX stock traded up $4.60 during midday trading on Wednesday, reaching $135.20. The company had a trading volume of 181,574 shares, compared to its average volume of 3,329,406. The company has a market capitalization of $92.74 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35. The stock has a 50 day moving average price of $115.08 and a 200-day moving average price of $95.55. The Blackstone Group has a 1-year low of $49.26 and a 1-year high of $132.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.77 and a quick ratio of 0.77.

The Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, July 21st. The asset manager reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.92 billion. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The business’s quarterly revenue was up 90.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that The Blackstone Group will post 3.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were issued a $0.8475 dividend. This represents a $3.39 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, July 30th. The Blackstone Group’s dividend payout ratio is currently 105.66%.

The Blackstone Group Company Profile

The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.

See Also: What does a dividend yield signify to investors?

Analyst Recommendations for The Blackstone Group (NYSE:BX)

Receive News & Ratings for The Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.