HM Payson & Co. raised its position in shares of The Blackstone Group L.P. (NYSE:BX) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,834 shares of the asset manager’s stock after buying an additional 2,650 shares during the period. HM Payson & Co.’s holdings in The Blackstone Group L.P. were worth $470,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in BX. Advantage Investment Management LLC bought a new position in The Blackstone Group L.P. during the fourth quarter worth approximately $111,000. Israel Discount Bank of New York GFN bought a new position in The Blackstone Group L.P. during the fourth quarter worth approximately $135,000. Hudock Capital Group LLC boosted its stake in shares of The Blackstone Group L.P. by 20.2% in the first quarter. Hudock Capital Group LLC now owns 4,726 shares of the asset manager’s stock worth $140,000 after buying an additional 793 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of The Blackstone Group L.P. by 72.1% in the first quarter. Archford Capital Strategies LLC now owns 5,088 shares of the asset manager’s stock worth $151,000 after buying an additional 2,131 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of The Blackstone Group L.P. during the first quarter worth about $174,000. 49.99% of the stock is owned by institutional investors and hedge funds.
Shares of The Blackstone Group L.P. (BX) opened at 34.55 on Tuesday. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $34.81. The stock has a market cap of $22.34 billion, a PE ratio of 17.06 and a beta of 1.32. The firm has a 50 day moving average price of $32.32 and a 200 day moving average price of $30.47.
The Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, April 20th. The asset manager reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.13. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.60 billion. The Blackstone Group L.P. had a net margin of 21.87% and a return on equity of 17.90%. The firm’s revenue for the quarter was up 108.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. On average, equities analysts expect that The Blackstone Group L.P. will post $2.89 EPS for the current year.
A number of research firms recently commented on BX. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday. Oppenheimer Holdings, Inc. boosted their target price on The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday. Vetr cut The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price target on the stock. in a report on Wednesday, July 12th. BidaskClub upgraded The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research cut The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The Blackstone Group L.P. currently has an average rating of “Buy” and a consensus price target of $37.56.
In other news, insider Joan Solotar sold 30,500 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $33.31, for a total value of $1,015,955.00. Following the completion of the sale, the insider now owns 150,281 shares of the company’s stock, valued at $5,005,860.11. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total transaction of $390,750,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,050,500 shares of company stock worth $392,416,555. 1.00% of the stock is owned by corporate insiders.
The Blackstone Group L.P. 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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