Financial Advocates Investment Management purchased a new stake in The Blackstone Group (NYSE:BX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,092 shares of the asset manager’s stock, valued at approximately $1,220,000.
Other hedge funds also recently bought and sold shares of the company. Hoylecohen LLC bought a new stake in shares of The Blackstone Group in the 4th quarter valued at $1,947,000. Kovitz Investment Group Partners LLC bought a new stake in shares of The Blackstone Group in the 4th quarter valued at $27,594,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of The Blackstone Group in the 4th quarter valued at $7,033,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of The Blackstone Group by 60.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 309,957 shares of the asset manager’s stock valued at $9,924,000 after buying an additional 116,257 shares in the last quarter. Finally, Financial Partners Group Inc bought a new stake in shares of The Blackstone Group in the 4th quarter valued at $294,000. 48.47% of the stock is currently owned by institutional investors.
BX stock traded down $0.29 during trading hours on Friday, reaching $31.01. 9,306,982 shares of the stock were exchanged, compared to its average volume of 5,378,641. The stock has a market cap of $20,438.32, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.36. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The Blackstone Group has a 12 month low of $28.85 and a 12 month high of $37.52.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. analysts forecast that The Blackstone Group will post 3.11 earnings per share for the current fiscal year.
A number of analysts recently commented on BX shares. Vetr cut shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price objective for the company. in a research report on Wednesday, January 10th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price objective on shares of The Blackstone Group in a research report on Thursday, January 11th. JPMorgan Chase upgraded shares of The Blackstone Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 target price on shares of The Blackstone Group in a report on Thursday, February 1st. Finally, Zacks Investment Research cut The Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The Blackstone Group has an average rating of “Hold” and a consensus target price of $39.90.
In related news, insider John G. Finley sold 22,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $34.15, for a total value of $751,300.00. Following the completion of the sale, the insider now directly owns 133,003 shares in the company, valued at approximately $4,542,052.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman J Tomilson Hill sold 227,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $34.55, for a total transaction of $7,864,823.80. Following the sale, the insider now owns 1,410,304 shares of the company’s stock, valued at $48,726,003.20. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock valued at $23,130,874 over the last quarter. 1.00% of the stock is currently owned by company insiders.
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The Blackstone Group Company Profile
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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