Hoylecohen LLC acquired a new position in The Blackstone Group (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 60,800 shares of the asset manager’s stock, valued at approximately $1,947,000.
Other large investors have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new position in shares of The Blackstone Group in the 3rd quarter worth $131,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in The Blackstone Group during the 4th quarter valued at about $160,000. James Hambro & Partners acquired a new position in The Blackstone Group during the 4th quarter valued at about $183,000. New England Private Wealth Advisors LLC acquired a new position in The Blackstone Group during the 3rd quarter valued at about $200,000. Finally, Beacon Investment Advisory Services Inc. acquired a new position in The Blackstone Group during the 3rd quarter valued at about $206,000. 48.47% of the stock is currently owned by institutional investors and hedge funds.
BX opened at $31.01 on Friday. The Blackstone Group has a 52 week low of $28.85 and a 52 week high of $37.52. The firm has a market cap of $20,629.44, a PE ratio of 11.04, a PEG ratio of 1.06 and a beta of 1.36. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.10.
The Blackstone Group (NYSE:BX) last released its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.73 billion. The Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The Blackstone Group’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. equities research analysts predict that The Blackstone Group will post 3.11 earnings per share for the current fiscal year.
In related news, insider John G. Finley sold 22,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $34.15, for a total value of $751,300.00. Following the transaction, the insider now owns 133,003 shares in the company, valued at approximately $4,542,052.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman J Tomilson Hill sold 100,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $34.58, for a total value of $3,458,000.00. Following the completion of the transaction, the insider now owns 1,410,304 shares in the company, valued at approximately $48,768,312.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 672,000 shares of company stock valued at $23,130,874. 1.00% of the stock is currently owned by company insiders.
BX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 target price on shares of The Blackstone Group in a research note on Thursday, February 1st. ValuEngine upgraded The Blackstone Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. UBS began coverage on The Blackstone Group in a research report on Tuesday, March 27th. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded The Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase downgraded The Blackstone Group from an “overweight” rating to a “hold” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $39.90.
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About The Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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.
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