In a report issued on October 11, Jeremy Campbell from Barclays maintained a Buy rating on Blackstone Group (BX), with a price target of $53.00. The company’s shares closed last Monday at $47.11.
According to TipRanks.com, Campbell is a 3-star analyst with an average return of 1.6% and a 54.5% success rate. Campbell covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Victory Capital Holdings Inc, and Virtus Investment Partners.
Currently, the analyst consensus on Blackstone Group is a Moderate Buy with an average price target of $52.43, representing an 11.5% upside. In a report issued on October 1, Wells Fargo also initiated coverage with a Buy rating on the stock with a $60.00 price target.
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Based on Blackstone Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $306 million. In comparison, last year the company had a net profit of $443 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
The Blackstone Group, Inc. engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions, and Credit.
