Citigroup downgraded shares of Blackstone Group (NYSE:BX) from a buy rating to a neutral rating in a research note published on Wednesday, BenzingaRatingsTable reports. They currently have $52.00 price target on the asset manager’s stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also recently commented on the stock. Oppenheimer set a $52.00 target price on shares of Blackstone Group and gave the stock a buy rating in a research report on Friday, July 19th. JMP Securities cut shares of Blackstone Group from an outperform rating to a market perform rating in a research report on Monday, July 8th. Morgan Stanley lifted their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Deutsche Bank lifted their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a hold rating in a research report on Friday, July 19th. Finally, Barclays assumed coverage on shares of Blackstone Group in a research report on Monday, August 5th. They issued an overweight rating and a $56.00 target price on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Blackstone Group presently has a consensus rating of Buy and a consensus target price of $48.44.

NYSE BX opened at $52.89 on Wednesday. Blackstone Group has a 52-week low of $26.88 and a 52-week high of $55.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $34.98 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.13 and a beta of 1.47. The company has a fifty day moving average of $49.13 and a 200-day moving average of $42.55.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.90 EPS. The firm’s revenue was down 43.5% compared to the same quarter last year. As a group, analysts forecast that Blackstone Group will post 2.31 EPS for the current fiscal year.

In other Blackstone Group news, insider Joan Solotar sold 25,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $53.83, for a total value of $1,345,750.00. Following the transaction, the insider now owns 235,803 shares in the company, valued at $12,693,275.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Blackstone Group Inc acquired 79,368 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $7.07 per share, for a total transaction of $561,131.76. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 694,319 shares of company stock worth $5,581,544. 1.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in BX. Resources Investment Advisors Inc. increased its position in shares of Blackstone Group by 606.0% in the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 606 shares during the period. Cypress Capital Management LLC WY purchased a new position in shares of Blackstone Group in the second quarter valued at about $25,000. Centaurus Financial Inc. increased its position in shares of Blackstone Group by 194.0% in the first quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 683 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Blackstone Group in the first quarter valued at about $32,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Blackstone Group in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 47.07% of the company’s stock.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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