Blackstone Group (NYSE:BX) had its price target lifted by investment analysts at Argus from $39.00 to $46.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the asset manager’s stock. Argus’ target price points to a potential upside of 15.90% from the company’s previous close.

A number of other brokerages have also issued reports on BX. Jefferies Financial Group restated a “buy” rating and set a $42.00 target price on shares of Blackstone Group in a research report on Friday, July 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $40.00 target price on shares of Blackstone Group in a research report on Friday, July 20th. Oppenheimer set a $42.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a research report on Thursday, July 19th. Credit Suisse Group decreased their target price on shares of Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. Finally, Morgan Stanley decreased their target price on shares of Blackstone Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Blackstone Group presently has a consensus rating of “Buy” and a consensus target price of $43.45.

Shares of BX opened at $39.69 on Tuesday. Blackstone Group has a 52 week low of $29.57 and a 52 week high of $40.60. The stock has a market capitalization of $26.35 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.21 and a beta of 1.37. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 19th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.17. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 71.4% compared to the same quarter last year. equities analysts expect that Blackstone Group will post 3.08 earnings per share for the current year.

In related news, insider John G. Finley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total transaction of $179,900.00. Following the sale, the insider now owns 113,003 shares in the company, valued at approximately $4,065,847.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman J Tomilson Hill sold 674,257 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $36.48, for a total transaction of $24,596,895.36. Following the completion of the transaction, the insider now directly owns 928,884 shares of the company’s stock, valued at approximately $33,885,688.32. The disclosure for this sale can be found here. Insiders have sold a total of 770,677 shares of company stock worth $28,061,444 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Blackstone Group in the 1st quarter valued at approximately $5,369,000. PNC Financial Services Group Inc. lifted its stake in Blackstone Group by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 708,399 shares of the asset manager’s stock valued at $22,790,000 after purchasing an additional 19,278 shares during the last quarter. Independent Advisor Alliance lifted its stake in Blackstone Group by 7.8% in the 2nd quarter. Independent Advisor Alliance now owns 59,405 shares of the asset manager’s stock valued at $1,911,000 after purchasing an additional 4,304 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Blackstone Group by 1.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,098,800 shares of the asset manager’s stock valued at $35,348,000 after purchasing an additional 15,000 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Blackstone Group by 29.5% in the 1st quarter. US Bancorp DE now owns 51,560 shares of the asset manager’s stock valued at $1,647,000 after purchasing an additional 11,735 shares during the last quarter. 48.75% of the stock is owned by institutional investors and hedge funds.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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Analyst Recommendations for Blackstone Group (NYSE:BX)

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