Atlantic Union Bankshares Corp grew its position in shares of Blackstone Group LP (NYSE:BX) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,636 shares of the asset manager’s stock after acquiring an additional 600 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Blackstone Group were worth $315,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BX. Burt Wealth Advisors acquired a new stake in shares of Blackstone Group in the third quarter valued at about $26,000. Lenox Wealth Advisors LLC bought a new position in Blackstone Group in the third quarter valued at approximately $28,000. Hartford Financial Management Inc. bought a new position in Blackstone Group in the third quarter valued at approximately $30,000. TCI Wealth Advisors Inc. bought a new position in Blackstone Group in the third quarter valued at approximately $32,000. Finally, Reilly Financial Advisors LLC increased its position in shares of Blackstone Group by 112.9% during the 3rd quarter. Reilly Financial Advisors LLC now owns 692 shares of the asset manager’s stock worth $34,000 after purchasing an additional 367 shares during the last quarter. 53.37% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on BX. BMO Capital Markets began coverage on Blackstone Group in a report on Monday, October 7th. They issued a “market perform” rating and a $44.00 price objective for the company. Deutsche Bank raised 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. Bank of America downgraded shares of Blackstone Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $54.00 to $52.00 in a report on Monday, October 14th. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup cut shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Wednesday, September 18th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.13.
Shares of NYSE BX opened at $58.11 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $55.24 and its two-hundred day moving average price is $50.70. The company has a market cap of $38.06 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.13 and a beta of 1.44. Blackstone Group LP has a twelve month low of $31.99 and a twelve month high of $58.84.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Blackstone Group had a return on equity of 7.61% and a net margin of 27.05%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was down 9.9% on a year-over-year basis. As a group, research analysts anticipate that Blackstone Group LP will post 2.29 EPS for the current fiscal year.
In other news, Vice Chairman Hamilton E. James sold 108,103 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $52.56, for a total transaction of $5,681,893.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Blackstone Group Inc sold 8,875,211 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $2.50, for a total transaction of $22,188,027.50. The disclosure for this sale can be found here. Insiders have sold a total of 16,608,103 shares of company stock worth $311,151,291 over the last three months. 1.00% of the stock is owned by insiders.
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.
Recommended Story: What is the market perform rating?
Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.