The Blackstone Group L.P. (NYSE:BX) had its price objective dropped by analysts at Credit Suisse Group from $46.00 to $45.00 in a report issued on Wednesday. The brokerage presently has an “outperform” rating on the asset manager’s stock. Credit Suisse Group’s price target suggests a potential upside of 37.49% from the stock’s current price.

A number of other analysts also recently weighed in on BX. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $34.51 price target for the company in a research report on Tuesday, May 2nd. Citigroup Inc. raised shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $40.00 in a research report on Monday, May 22nd. Jefferies Group LLC raised their price target on shares of The Blackstone Group L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. BidaskClub downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $37.34.

The Blackstone Group L.P. (NYSE BX) opened at 32.73 on Wednesday. The firm has a market cap of $21.24 billion, a PE ratio of 14.72 and a beta of 1.32. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The stock has a 50 day moving average of $33.09 and a 200 day moving average of $31.55.

The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.03. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that The Blackstone Group L.P. will post $2.83 earnings per share for the current year.

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In other The Blackstone Group L.P. news, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joan Solotar sold 30,500 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $33.31, for a total value of $1,015,955.00. Following the completion of the sale, the insider now owns 150,281 shares in the company, valued at $5,005,860.11. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Large investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in The Blackstone Group L.P. by 3.5% in the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after buying an additional 1,387,363 shares during the last quarter. Morgan Stanley boosted its stake in The Blackstone Group L.P. by 6.0% in the first quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock worth $973,884,000 after buying an additional 1,859,744 shares during the last quarter. Janus Capital Management LLC boosted its stake in The Blackstone Group L.P. by 15.8% in the first quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock worth $556,990,000 after buying an additional 2,565,390 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The Blackstone Group L.P. by 6.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,972,178 shares of the asset manager’s stock worth $385,275,000 after buying an additional 841,476 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in The Blackstone Group L.P. by 107.7% in the second quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock worth $382,695,000 after buying an additional 5,951,587 shares during the last quarter. Institutional investors own 46.63% of the company’s stock.

About The Blackstone Group L.P.

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

Analyst Recommendations for The Blackstone Group L.P. (NYSE:BX)

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