Blackstone Group L.P. (NYSE:BX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They presently have a $29.22 price target on the stock. Vetr‘s price objective points to a potential upside of 10.89% from the stock’s previous close.

BX has been the topic of several other reports. TheStreet lowered Blackstone Group L.P. to a “hold” rating in a research report on Wednesday, June 15th. Deutsche Bank AG cut their price objective on Blackstone Group L.P. from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, June 16th. Barclays PLC cut their price objective on Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Keefe, Bruyette & Woods cut their price objective on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, July 11th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.19.

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

Shares of Blackstone Group L.P. (NYSE:BX) traded up 1.50% during midday trading on Wednesday, reaching $26.35. The company’s stock had a trading volume of 2,577,098 shares. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 55.59 and a beta of 1.58. Blackstone Group L.P. has a 52 week low of $22.31 and a 52 week high of $35.24. The firm’s 50 day moving average is $27.13 and its 200 day moving average is $26.69.

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Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 21st. The company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts forecast that Blackstone Group L.P. will post $2.08 EPS for the current fiscal year.

In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the completion of the transaction, the insider now directly owns 42,967 shares in the company, valued at $1,139,055.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Blackstone Group L.P. by 7.1% in the second quarter. FMR LLC now owns 36,238,251 shares of the company’s stock valued at $889,287,000 after buying an additional 2,397,701 shares in the last quarter. ING Groep NV increased its position in shares of Blackstone Group L.P. by 148.8% in the second quarter. ING Groep NV now owns 15,846,567 shares of the company’s stock valued at $388,558,000 after buying an additional 9,477,059 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Blackstone Group L.P. by 63.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,324,694 shares of the company’s stock valued at $155,208,000 after buying an additional 2,451,565 shares in the last quarter. Beck Mack & Oliver LLC increased its position in shares of Blackstone Group L.P. by 3.8% in the second quarter. Beck Mack & Oliver LLC now owns 2,999,301 shares of the company’s stock valued at $73,603,000 after buying an additional 109,282 shares in the last quarter. Finally, Factory Mutual Insurance Co. increased its position in shares of Blackstone Group L.P. by 3.0% in the first quarter. Factory Mutual Insurance Co. now owns 2,044,600 shares of the company’s stock valued at $57,351,000 after buying an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 49.02% 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.

5 Day Chart for NYSE:BX

To view Vetr’s full report, visit Vetr’s official website.

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