Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.Blackstone Group ( BX) pushed the Financial Services industry higher today making it today's featured financial services winner. The industry as a whole was unchanged today. By the end of trading, Blackstone Group rose $0.41 (1.2%) to $35.18 on light volume. Throughout the day, 3,770,064 shares of Blackstone Group exchanged hands as compared to its average daily volume of 5,074,800 shares. The stock ranged in a price between $34.64-$35.30 after having opened the day at $34.80 as compared to the previous trading day's close of $34.77. Other companies within the Financial Services industry that increased today were: PowerShares DB Commodity Short ETN ( DDP), up 33.9%, PowerShares DB Agriculture Long ETN ( AGF), up 28.8%, PowerShares DB Base Metals Short ETN ( BOS), up 21.0% and PowerShares DB Agriculture Double Short ETN ( AGA), up 21.0%.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations. Blackstone Group has a market cap of $19.9 billion and is part of the financial sector. Shares are up 9.3% year to date as of the close of trading on Friday. Currently there are 8 analysts that rate Blackstone Group a buy, no analysts rate it a sell, and 1 rates it a hold. TheStreet Ratings rates Blackstone Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.