Analysts Set The Blackstone Group Inc. (NYSE:BX) Target Price at $78.55

The Blackstone Group Inc. (NYSE:BX) has been given an average recommendation of “Buy” by the fifteen analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $78.55.

Several research firms recently weighed in on BX. Piper Sandler began coverage on The Blackstone Group in a research report on Thursday, January 14th. They set an “overweight” rating and a $71.00 target price on the stock. Zacks Investment Research upgraded The Blackstone Group from a “hold” rating to a “strong-buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, April 27th. Deutsche Bank Aktiengesellschaft increased their target price on The Blackstone Group from $66.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, April 23rd. Morgan Stanley increased their target price on The Blackstone Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Finally, Credit Suisse Group upped their price target on The Blackstone Group from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th.

In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $37.00, for a total value of $87,713,384.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 33,404 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $89.88, for a total value of $3,002,351.52. Following the completion of the transaction, the insider now directly owns 363,489 shares of the company’s stock, valued at approximately $32,670,391.32. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Charter Oak Capital Management LLC purchased a new position in The Blackstone Group in the fourth quarter valued at about $26,000. Atlas Private Wealth Advisors purchased a new position in The Blackstone Group in the first quarter valued at about $30,000. Mascoma Wealth Management LLC bought a new position in The Blackstone Group during the 1st quarter worth approximately $31,000. Catalyst Private Wealth LLC bought a new position in The Blackstone Group during the 3rd quarter worth approximately $26,000. Finally, Valley Brook Capital Group bought a new position in The Blackstone Group during the 4th quarter worth approximately $34,000. 59.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BX traded down $0.15 on Thursday, hitting $88.33. The company had a trading volume of 3,034,918 shares, compared to its average volume of 2,957,684. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The Blackstone Group has a 52-week low of $47.80 and a 52-week high of $90.42. The business has a 50 day moving average of $78.34 and a 200 day moving average of $66.94. The company has a market cap of $60.40 billion, a PE ratio of 82.69 and a beta of 1.33.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Wednesday, April 21st. The asset manager reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.24. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, equities analysts predict that The Blackstone Group will post 2.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 10th. Stockholders of record on Monday, May 3rd will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, April 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.49%. The Blackstone Group’s dividend payout ratio (DPR) is currently 141.99%.

The Blackstone Group Company Profile

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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Analyst Recommendations for The Blackstone Group (NYSE:BX)

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