Honkamp Krueger Financial Services Inc. purchased a new position in shares of Blackstone Group LP (NYSE:BX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,241 shares of the asset manager’s stock, valued at approximately $237,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Burt Wealth Advisors acquired a new stake in shares of Blackstone Group during the 3rd quarter worth approximately $26,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Blackstone Group during the 3rd quarter valued at approximately $28,000. Hartford Financial Management Inc. acquired a new position in Blackstone Group in the third quarter valued at approximately $30,000. TCI Wealth Advisors Inc. acquired a new position in Blackstone Group in the third quarter valued at approximately $32,000. Finally, Advocacy Wealth Management Services LLC acquired a new position in Blackstone Group in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 53.37% of the company’s stock.
Shares of BX stock opened at $58.23 on Thursday. The firm’s 50 day moving average price is $55.34 and its 200-day moving average price is $50.77. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Blackstone Group LP has a one year low of $32.17 and a one year high of $58.84. The firm has a market cap of $38.31 billion, a P/E ratio of 37.01, a P/E/G ratio of 1.14 and a beta of 1.44.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.63 EPS. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. As a group, research analysts predict that Blackstone Group LP will post 2.27 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. BMO Capital Markets assumed coverage on Blackstone Group in a research note on Monday, October 7th. They set a “market perform” rating and a $44.00 target price for the company. Citigroup downgraded Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Wednesday, September 18th. They noted that the move was a valuation call. S&P Equity Research lowered Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. Wells Fargo & Co increased their price target on Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Deutsche Bank increased their price target on Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Blackstone Group currently has an average rating of “Hold” and an average price target of $55.13.
In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $243,965,929.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Blackstone Group Inc sold 8,875,211 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $2.50, for a total value of $22,188,027.50. The disclosure for this sale can be found here. In the last three months, insiders sold 16,608,103 shares of company stock worth $311,151,291. 1.00% of the stock is owned by corporate 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.
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