Atlantic Union Bankshares Corp acquired a new stake in shares of Blackstone Group LP (NYSE:BX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,036 shares of the asset manager’s stock, valued at approximately $246,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Colony Group LLC lifted its stake in shares of Blackstone Group by 7.9% during the second quarter. Colony Group LLC now owns 43,342 shares of the asset manager’s stock valued at $1,925,000 after buying an additional 3,162 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of Blackstone Group by 7.0% during the second quarter. Laurel Wealth Advisors Inc. now owns 10,747 shares of the asset manager’s stock valued at $477,000 after buying an additional 705 shares during the period. Iridian Asset Management LLC CT purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $80,000. We Are One Seven LLC purchased a new position in shares of Blackstone Group during the third quarter valued at approximately $255,000. Finally, Coastal Investment Advisors Inc. lifted its stake in shares of Blackstone Group by 37.2% during the second quarter. Coastal Investment Advisors Inc. now owns 21,377 shares of the asset manager’s stock valued at $948,000 after buying an additional 5,798 shares during the period. 47.10% of the stock is currently owned by institutional investors and hedge funds.
In other Blackstone Group news, major shareholder Blackstone Group Inc acquired 79,368 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $7.07 per share, with a total value of $561,131.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Striano sold 7,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $48.23, for a total transaction of $337,610.00. Following the completion of the sale, the insider now directly owns 36,186 shares of the company’s stock, valued at approximately $1,745,250.78. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 694,319 shares of company stock valued at $5,581,544 and have sold 9,161,966 shares valued at $300,689,747. Corporate insiders own 1.00% of the company’s stock.
Several brokerages recently issued reports on BX. Citigroup downgraded shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Wednesday, September 18th. They noted that the move was a valuation call. Barclays set a $53.00 price target on shares of Blackstone Group and gave the stock a “buy” rating in a research report on Friday, October 11th. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JMP Securities lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Finally, Morgan Stanley upped their price target on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $51.75.
Shares of BX stock opened at $48.39 on Friday. Blackstone Group LP has a one year low of $26.88 and a one year high of $55.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average price of $49.73 and a 200 day moving average price of $44.57. The firm has a market capitalization of $31.15 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.04 and a beta of 1.45.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Blackstone Group’s revenue for the quarter was down 43.5% compared to the same quarter last year. As a group, equities analysts forecast that Blackstone Group LP will post 2.27 EPS for the current fiscal year.
Blackstone Group Profile
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.
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