Blackstone Group (NYSE:BX) had its price objective increased by Morgan Stanley from $50.00 to $54.00 in a report released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

Other research analysts also recently issued reports about the company. ValuEngine raised Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. JMP Securities started coverage on Fiverr International in a research note on Monday. They issued an outperform rating and a $33.00 price objective on the stock. Finally, Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Blackstone Group presently has an average rating of Buy and an average price target of $44.04.

Shares of BX stock opened at $46.07 on Tuesday. The firm has a 50 day moving average of $43.27. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Blackstone Group has a twelve month low of $26.88 and a twelve month high of $47.93. The company has a market cap of $30.56 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.47.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.08). Blackstone Group had a net margin of 23.35% and a return on equity of 12.79%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Sell-side analysts predict that Blackstone Group will post 2.31 earnings per share for the current fiscal year.

In other Blackstone Group news, Director Bennett J. Goodman sold 115,000 shares of Blackstone Group stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $39.58, for a total value of $4,551,700.00. Following the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III purchased 2,720 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $24.49 per share, for a total transaction of $66,612.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 686,872 shares of company stock worth $16,617,597. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BX. Bank of Montreal Can increased its position in shares of Blackstone Group by 49.9% during the first quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock valued at $738,740,000 after purchasing an additional 7,030,805 shares during the period. Ellis Investment Partners LLC boosted its stake in Blackstone Group by 3,640.1% in the 1st quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after buying an additional 2,793,303 shares in the last quarter. RMB Capital Management LLC boosted its stake in Blackstone Group by 102.2% in the 4th quarter. RMB Capital Management LLC now owns 10,015 shares of the asset manager’s stock valued at $299,000 after buying an additional 468,000 shares in the last quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd acquired a new stake in Blackstone Group in the 4th quarter valued at $6,893,000. Finally, Marshall Wace North America L.P. boosted its stake in Blackstone Group by 273.2% in the 1st quarter. Marshall Wace North America L.P. now owns 261,651 shares of the asset manager’s stock valued at $9,150,000 after buying an additional 191,544 shares in the last quarter. 47.07% of the stock is currently owned by institutional investors.

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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