Optimum Investment Advisors trimmed its position in Blackstone Group LP (NYSE:BX) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,860 shares of the asset manager’s stock after selling 4,375 shares during the period. Optimum Investment Advisors’ holdings in Blackstone Group were worth $1,163,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Blackstone Group by 1,142.0% during the second quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock worth $268,879,000 after buying an additional 7,413,287 shares during the period. Capital World Investors boosted its position in Blackstone Group by 101.0% during the 2nd quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock worth $133,008,000 after purchasing an additional 2,004,000 shares during the period. Global Thematic Partners LLC purchased a new stake in Blackstone Group during the 2nd quarter worth $57,533,000. FMR LLC boosted its position in Blackstone Group by 3.5% during the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after purchasing an additional 1,387,363 shares during the period. Finally, Fred Alger Management Inc. boosted its position in Blackstone Group by 23.8% during the 2nd quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock worth $209,763,000 after purchasing an additional 1,211,146 shares during the period. 46.91% of the stock is currently owned by institutional investors.
Blackstone Group LP (NYSE BX) traded up $0.03 on Friday, reaching $31.75. 449,401 shares of the company traded hands, compared to its average volume of 4,117,280. The firm has a market capitalization of $20,176.59, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. Blackstone Group LP has a 52-week low of $26.65 and a 52-week high of $35.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. Blackstone Group’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. equities analysts anticipate that Blackstone Group LP will post 2.78 EPS for the current year.
A number of brokerages recently weighed in on BX. Vetr cut shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target for the company. in a research report on Monday, December 4th. Oppenheimer reiterated a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Bank of America boosted their price objective on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Morgan Stanley boosted their price objective on shares of Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.25.
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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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