Strategic Wealth Management Group LLC decreased its holdings in shares of Blackstone Group LP (NYSE:BX) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,495 shares of the asset manager’s stock after selling 664 shares during the period. Strategic Wealth Management Group LLC’s holdings in Blackstone Group were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of BX. Dfpg Investments Inc. raised its holdings in shares of Blackstone Group by 21.1% in the first quarter. Dfpg Investments Inc. now owns 15,562 shares of the asset manager’s stock worth $540,000 after buying an additional 2,711 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Blackstone Group by 8.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 7,619 shares of the asset manager’s stock worth $266,000 after purchasing an additional 581 shares during the period. Cordasco Financial Network acquired a new stake in Blackstone Group during the 1st quarter worth $58,000. Manning & Napier Group LLC boosted its stake in Blackstone Group by 2.4% during the 1st quarter. Manning & Napier Group LLC now owns 51,295 shares of the asset manager’s stock worth $1,792,000 after purchasing an additional 1,185 shares during the period. Finally, Centric Wealth Management acquired a new stake in Blackstone Group during the 1st quarter worth $214,000. 50.27% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Morgan Stanley decreased their target price on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Blackstone Group currently has an average rating of “Buy” and an average target price of $42.54.
In other news, major shareholder Holdings L.P. Blackstone III bought 109,500 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $23.95 per share, for a total transaction of $2,622,525.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 494,192 shares of company stock valued at $11,793,325. 1.00% of the stock is owned by insiders.
NYSE:BX traded up $0.31 on Wednesday, hitting $34.76. 1,974,488 shares of the company’s stock traded hands, compared to its average volume of 3,173,922. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $40.60. The stock has a market cap of $22.63 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.43.
Blackstone Group (NYSE:BX) last released its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The business had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $381.19 million. During the same period last year, the firm earned $0.71 EPS. The company’s revenue was down 74.2% compared to the same quarter last year. On average, equities research analysts anticipate that Blackstone Group LP will post 2.6 earnings per share for the current year.
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About Blackstone Group
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.
Further Reading: Insider Trading
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