Blackstone Group (NYSE:BX) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “hold” rating in a report issued on Tuesday.
A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price objective on shares of Blackstone Group in a research note on Thursday, February 1st. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 price target on shares of Blackstone Group in a research note on Thursday, January 11th. Vetr lowered Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price objective for the company. in a report on Wednesday, January 10th. Morgan Stanley boosted their price objective on Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Finally, Bank of America boosted their price objective on Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Blackstone Group currently has an average rating of “Buy” and a consensus price target of $39.90.
Shares of Blackstone Group (NYSE:BX) traded down $0.05 during trading on Tuesday, reaching $34.19. The company had a trading volume of 4,824,233 shares, compared to its average volume of 6,040,167. Blackstone Group has a 52-week low of $28.45 and a 52-week high of $37.52. The firm has a market capitalization of $40,890.00, a PE ratio of 15.62, a P/E/G ratio of 0.66 and a beta of 1.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95.
In other news, insider John G. Finley sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $32.00, for a total transaction of $25,600.00. Following the completion of the transaction, the insider now directly owns 87,852 shares of the company’s stock, valued at $2,811,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total value of $632,800.00. Following the transaction, the insider now directly owns 87,852 shares of the company’s stock, valued at $2,779,637.28. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Honeywell International Inc. grew its holdings in shares of Blackstone Group by 37.0% during the third quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock valued at $34,017,000 after purchasing an additional 275,400 shares during the last quarter. Sandy Spring Bank boosted its position in shares of Blackstone Group by 93.4% during the third quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock worth $487,000 after buying an additional 7,050 shares during the period. Hilton Capital Management LLC acquired a new position in shares of Blackstone Group during the third quarter worth approximately $416,000. Neuberger Berman Group LLC boosted its position in shares of Blackstone Group by 135.5% during the third quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after buying an additional 1,117,412 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Blackstone Group by 27.5% during the third quarter. Bessemer Group Inc. now owns 15,050 shares of the asset manager’s stock worth $502,000 after buying an additional 3,250 shares during the period. 48.08% of the stock is owned by institutional investors.
About Blackstone Group
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.
