Compass Ion Advisors LLC acquired a new stake in shares of Blackstone Group LP (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,894 shares of the asset manager’s stock, valued at approximately $1,281,000. Blackstone Group accounts for 0.7% of Compass Ion Advisors LLC’s investment portfolio, making the stock its 15th largest holding.
Several other large investors have also bought and sold shares of BX. Burt Wealth Advisors bought a new stake in shares of Blackstone Group during the third quarter worth about $26,000. Allworth Financial LP grew its position in Blackstone Group by 359.8% in the 4th quarter. Allworth Financial LP now owns 469 shares of the asset manager’s stock worth $26,000 after purchasing an additional 367 shares in the last quarter. Lenox Wealth Advisors LLC bought a new stake in Blackstone Group in the 3rd quarter worth about $28,000. Hartford Financial Management Inc. bought a new stake in Blackstone Group in the 3rd quarter worth about $30,000. Finally, TCI Wealth Advisors Inc. bought a new stake in Blackstone Group in the 3rd quarter worth about $32,000. 53.37% of the stock is owned by institutional investors.
BX has been the subject of a number of recent analyst reports. Barclays reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Blackstone Group in a research report on Wednesday, December 11th. Wells Fargo & Co upped their price objective on shares of Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Oppenheimer downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. BMO Capital Markets initiated coverage on shares of Blackstone Group in a research report on Monday, October 7th. They issued a “market perform” rating and a $44.00 price objective for the company. Finally, S&P Equity Research downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.13.
Shares of Blackstone Group stock traded up $0.68 on Friday, reaching $60.83. 745,967 shares of the company traded hands, compared to its average volume of 3,510,085. Blackstone Group LP has a 52 week low of $32.17 and a 52 week high of $60.19. The company has a 50 day moving average of $55.46 and a 200 day moving average of $50.85. The firm has a market capitalization of $39.66 billion, a PE ratio of 26.91, a PEG ratio of 1.14 and a beta of 1.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.
Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.31 billion. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. As a group, analysts anticipate that Blackstone Group LP will post 2.27 earnings per share for the current year.
In other Blackstone Group news, major shareholder Clarus Gp L.P. Blackstone purchased 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $3,000,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Blackstone Group Inc sold 8,875,211 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $2.50, for a total transaction of $22,188,027.50. The disclosure for this sale can be found here. Insiders have sold a total of 16,608,103 shares of company stock worth $311,151,291 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Group Company Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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