Morgan Stanley Boosts Blackstone Group (NYSE:BX) Price Target to $54.00

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

A number of other equities research analysts have also recently issued reports on BX. Zacks Investment Research upgraded Green Brick Partners from a sell rating to a hold rating in a research note on Thursday, April 25th. JMP Securities initiated coverage on Fiverr International in a research note on Monday. They issued an outperform rating and a $33.00 target price on the stock. Finally, ValuEngine upgraded Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $44.04.

BX stock opened at $46.07 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $30.56 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.47. Blackstone Group has a 1 year low of $26.88 and a 1 year high of $47.93. The company has a fifty day moving average of $43.27.

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

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III purchased 2,720 shares of the stock in a transaction dated Wednesday, April 17th. The shares were bought at an average cost of $24.49 per share, with a total value of $66,612.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bennett J. Goodman sold 115,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were 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 in the company, valued at $9,895,000. The disclosure for this sale can be found here. Insiders have bought 686,872 shares of company stock worth $16,617,597 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Resources Investment Advisors Inc. grew its holdings in Blackstone Group by 606.0% during the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock worth $25,000 after acquiring an additional 606 shares during the period. Sound Income Strategies LLC increased its stake in Blackstone Group by 69.4% in the 1st quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after purchasing an additional 300 shares in the last quarter. Investors Research Corp purchased a new position in Blackstone Group in the 1st quarter worth about $28,000. Centaurus Financial Inc. increased its stake in Blackstone Group by 194.0% in the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock worth $30,000 after purchasing an additional 683 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in Blackstone Group in the 4th quarter worth about $32,000. 47.07% of the stock is currently owned by hedge funds and other institutional investors.

About Blackstone Group

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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