We Are One Seven LLC lifted its stake in Blackstone Group LP (NYSE:BX) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,662 shares of the asset manager’s stock after purchasing an additional 442 shares during the quarter. We Are One Seven LLC’s holdings in Blackstone Group were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP bought a new position in Blackstone Group in the 1st quarter valued at approximately $50,000. Bank of New York Mellon Corp lifted its position in Blackstone Group by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,688 shares of the asset manager’s stock valued at $6,249,000 after acquiring an additional 11,523 shares in the last quarter. Invesco Ltd. lifted its position in Blackstone Group by 138.6% in the 2nd quarter. Invesco Ltd. now owns 881,761 shares of the asset manager’s stock valued at $39,167,000 after acquiring an additional 512,268 shares in the last quarter. Capital Bank & Trust Co lifted its position in Blackstone Group by 1,341.3% in the 2nd quarter. Capital Bank & Trust Co now owns 3,315 shares of the asset manager’s stock valued at $147,000 after acquiring an additional 3,085 shares in the last quarter. Finally, Bluefin Trading LLC bought a new position in Blackstone Group in the 2nd quarter valued at approximately $3,043,000. 53.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BX opened at $60.76 on Friday. The firm has a market cap of $39.66 billion, a PE ratio of 26.53, a P/E/G ratio of 1.19 and a beta of 1.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $55.59 and a two-hundred day simple moving average of $50.93. Blackstone Group LP has a 1-year low of $32.17 and a 1-year high of $61.39.
Blackstone Group (NYSE:BX) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast that Blackstone Group LP will post 2.26 EPS for the current fiscal year.
Several research firms recently issued reports on BX. Barclays reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Blackstone Group in a research report on Wednesday, December 11th. Deutsche Bank boosted their target price on shares of Blackstone Group from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley reiterated an “overweight” rating and set a $60.00 target price (up from $57.00) on shares of Blackstone Group in a research note on Friday, October 25th. S&P Equity Research lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. Finally, Wells Fargo & Co boosted their target price on shares of Blackstone Group from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Blackstone Group has an average rating of “Hold” and an average target price of $55.13.
In other news, Vice Chairman Hamilton E. James sold 360,042 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $51.65, for a total value of $18,596,169.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $35.54, for a total value of $243,965,929.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,608,103 shares of company stock valued at $311,151,291. Company insiders own 1.00% of the company’s stock.
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, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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