Gofen & Glossberg LLC IL lifted its stake in shares of Blackstone Group LP (NYSE:BX) by 42.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,250 shares of the asset manager’s stock after purchasing an additional 3,340 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Blackstone Group were worth $549,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its holdings in shares of Blackstone Group by 1.0% in the 2nd quarter. Valley National Advisers Inc. now owns 23,348 shares of the asset manager’s stock valued at $1,037,000 after buying an additional 233 shares during the period. Ashfield Capital Partners LLC boosted its stake in shares of Blackstone Group by 0.7% in the second quarter. Ashfield Capital Partners LLC now owns 33,573 shares of the asset manager’s stock valued at $1,491,000 after buying an additional 242 shares in the last quarter. Cottage Street Advisors LLC boosted its stake in shares of Blackstone Group by 0.3% in the second quarter. Cottage Street Advisors LLC now owns 75,450 shares of the asset manager’s stock valued at $3,351,000 after buying an additional 247 shares in the last quarter. BB&T Corp boosted its stake in shares of Blackstone Group by 2.3% in the second quarter. BB&T Corp now owns 10,949 shares of the asset manager’s stock valued at $486,000 after buying an additional 250 shares in the last quarter. Finally, Girard Partners LTD. boosted its stake in shares of Blackstone Group by 4.0% in the second quarter. Girard Partners LTD. now owns 7,546 shares of the asset manager’s stock valued at $335,000 after buying an additional 291 shares in the last quarter. Institutional investors and hedge funds own 47.07% of the company’s stock.
BX opened at $47.11 on Friday. The business’s fifty day moving average is $50.02 and its two-hundred day moving average is $44.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $31.16 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.03 and a beta of 1.45. Blackstone Group LP has a one year low of $26.88 and a one year high of $55.17.
Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. Blackstone Group’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, analysts predict that Blackstone Group LP will post 2.27 EPS for the current fiscal year.
A number of analysts recently weighed in on BX shares. Barclays started coverage on Blackstone Group in a research note on Monday, August 5th. They issued an “overweight” rating and a $56.00 price target on the stock. ValuEngine downgraded Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lifted their price target on Blackstone Group from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Oppenheimer downgraded Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. They noted that the move was a valuation call. Finally, Citigroup downgraded Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research note on Wednesday, September 18th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.33.
In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $32.75, for a total transaction of $299,006,386.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joan Solotar sold 25,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $53.83, for a total value of $1,345,750.00. Following the sale, the insider now owns 235,803 shares in the company, valued at $12,693,275.49. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 694,319 shares of company stock worth $5,581,544 and have sold 9,161,966 shares worth $300,689,747. 1.00% of the stock is currently owned by insiders.
Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
See Also: Return on Equity (ROE)
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