Atlantic Trust Group LLC increased its holdings in shares of Blackstone Group LP (NYSE:BX) by 2,189.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,911,552 shares of the asset manager’s stock after buying an additional 1,828,052 shares during the quarter. Atlantic Trust Group LLC owned 0.30% of Blackstone Group worth $63,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Jacobi Capital Management LLC acquired a new position in shares of Blackstone Group in the 2nd quarter valued at about $116,000. Wealthcare Advisory Partners LLC acquired a new position in Blackstone Group in the 3rd quarter worth about $131,000. Omnia Family Wealth LLC raised its holdings in Blackstone Group by 0.5% in the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock worth $134,000 after purchasing an additional 20 shares during the period. Pathstone Family Office LLC acquired a new position in Blackstone Group in the 2nd quarter worth about $167,000. Finally, New England Private Wealth Advisors LLC acquired a new position in Blackstone Group in the 3rd quarter worth about $200,000. Hedge funds and other institutional investors own 46.40% of the company’s stock.
In related news, major shareholder Group L.P. Blackstone purchased 25,466 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were purchased at an average price of $28.61 per share, with a total value of $728,582.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 800 shares of Blackstone Group stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the completion of the sale, the insider now directly owns 87,852 shares in the company, valued at approximately $2,811,264. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
A number of equities analysts have commented on BX shares. Vetr cut Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price for the company. in a report on Monday, November 20th. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Morgan Stanley increased their price objective on Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Bank of America increased their price objective on Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Oppenheimer reiterated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.90.
Shares of Blackstone Group LP (NYSE BX) traded up $0.86 during midday trading on Friday, hitting $35.39. The stock had a trading volume of 10,426,062 shares, compared to its average volume of 4,120,000. Blackstone Group LP has a twelve month low of $28.45 and a twelve month high of $35.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $42,500.00, a PE ratio of 15.25, a P/E/G ratio of 0.65 and a beta of 1.37.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.14. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. Blackstone Group’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. sell-side analysts expect that Blackstone Group LP will post 2.8 earnings per share for the current fiscal year.
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Blackstone Group Company Profile
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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