Blackstone Group (NYSE:BX) had its price target hoisted by equities research analysts at Deutsche Bank from $43.00 to $47.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Deutsche Bank’s price objective indicates a potential downside of 7.97% from the stock’s current price.

BX has been the topic of a number of other reports. Bank of America decreased their price target on Blackstone Group from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $53.00 price target on shares of Blackstone Group in a research note on Friday, January 31st. Citigroup lifted their price target on Blackstone Group from $53.50 to $57.50 and gave the stock a “buy” rating in a research note on Friday, April 24th. Credit Suisse Group reissued a “buy” rating and set a $65.00 target price on shares of Blackstone Group in a research note on Sunday, February 2nd. Finally, TheStreet cut Blackstone Group from a “b-” rating to a “c” rating in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.35.

NYSE:BX opened at $51.07 on Friday. The business has a 50 day moving average of $48.21 and a 200 day moving average of $53.47. The company has a market capitalization of $33.90 billion, a price-to-earnings ratio of 69.96, a PEG ratio of 13.19 and a beta of 1.45. Blackstone Group has a 1-year low of $33.00 and a 1-year high of $64.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.31 billion. Blackstone Group had a return on equity of 13.87% and a net margin of 27.93%. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, sell-side analysts anticipate that Blackstone Group will post 2.04 EPS for the current year.

In other news, major shareholder Blackstone Group Inc purchased 333,965 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $26.02 per share, for a total transaction of $8,689,769.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 1,665,085 shares of company stock worth $41,383,583 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in Blackstone Group by 7.2% in the fourth quarter. Capital World Investors now owns 33,010,804 shares of the asset manager’s stock worth $1,846,624,000 after acquiring an additional 2,214,993 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Blackstone Group by 69.4% in the first quarter. Wellington Management Group LLP now owns 26,841,950 shares of the asset manager’s stock worth $1,223,190,000 after acquiring an additional 10,996,707 shares in the last quarter. BlackRock Inc. boosted its holdings in Blackstone Group by 8.3% in the first quarter. BlackRock Inc. now owns 19,220,238 shares of the asset manager’s stock worth $875,864,000 after acquiring an additional 1,468,185 shares in the last quarter. Morgan Stanley boosted its holdings in Blackstone Group by 2.4% in the first quarter. Morgan Stanley now owns 18,310,670 shares of the asset manager’s stock worth $834,417,000 after acquiring an additional 437,363 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Blackstone Group by 16.2% in the first quarter. Capital International Investors now owns 15,799,469 shares of the asset manager’s stock worth $719,982,000 after acquiring an additional 2,199,153 shares in the last quarter. Institutional investors own 55.43% of the company’s stock.

About Blackstone Group

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.

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Analyst Recommendations for Blackstone Group (NYSE:BX)

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