Blackstone Group L.P. (NYSE:BX) had its price objective lowered by Barclays PLC from $33.00 to $31.00 in a report released on Thursday morning. Barclays PLC currently has an overweight rating on the stock.
BX has been the subject of a number of other research reports. Vetr lowered Blackstone Group L.P. from a strong-buy rating to a buy rating and set a $28.90 price target for the company. in a research report on Thursday, June 23rd. Zacks Investment Research upgraded Blackstone Group L.P. from a strong sell rating to a hold rating in a research report on Tuesday, July 26th. Bank of America Corp. reiterated a hold rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Deutsche Bank AG reduced their price target on Blackstone Group L.P. from $28.00 to $26.00 and set a hold rating for the company in a research report on Thursday, June 16th. Finally, Credit Suisse Group AG reissued a buy rating and issued a $35.00 price objective on shares of Blackstone Group L.P. in a research note on Monday, September 19th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $33.84.
Blackstone Group L.P. (NYSE:BX) traded down 0.0843% during mid-day trading on Thursday, hitting $23.8199. The company had a trading volume of 1,586,194 shares. The company’s 50 day moving average price is $25.86 and its 200-day moving average price is $26.40. The company has a market cap of $14.96 billion, a PE ratio of 50.2530 and a beta of 1.57. Blackstone Group L.P. has a one year low of $22.31 and a one year high of $35.00.
Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The company earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Blackstone Group L.P. will post $2.06 EPS for the current fiscal year.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the transaction, the insider now owns 42,967 shares in the company, valued at $1,139,055.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BX. Huntington National Bank increased its position in shares of Blackstone Group L.P. by 17.0% in the second quarter. Huntington National Bank now owns 4,687 shares of the company’s stock worth $115,000 after buying an additional 682 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Blackstone Group L.P. during the second quarter valued at about $125,000. TCI Wealth Advisors Inc. increased its stake in Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock valued at $125,000 after buying an additional 51 shares during the period. Adirondack Trust Co. increased its stake in Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock valued at $128,000 after buying an additional 36 shares during the period. Finally, Kistler Tiffany Companies LLC increased its stake in Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock valued at $132,000 after buying an additional 2,565 shares during the period. Hedge funds and other institutional investors own 49.11% of the company’s stock.
About Blackstone Group L.P.
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
Receive News & Ratings for Blackstone Group L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group L.P. and related companies with MarketBeat.com's FREE daily email newsletter.