Blackstone Group LP (NYSE:BX) insider John G. Finley sold 800 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the sale, the insider now owns 87,852 shares in the company, valued at $2,811,264. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Blackstone Group LP (NYSE BX) traded down $0.31 during mid-day trading on Friday, reaching $31.41. The company had a trading volume of 3,316,180 shares, compared to its average volume of 4,113,970. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a 12 month low of $26.65 and a 12 month high of $35.09. The firm has a market cap of $20,176.59, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $0.57 EPS. Blackstone Group’s revenue was up 21.4% compared to the same quarter last year. equities research analysts anticipate that Blackstone Group LP will post 2.78 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Blackstone Group by 3.5% in the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after buying an additional 1,387,363 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Blackstone Group by 1,142.0% in the 2nd quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock worth $268,879,000 after buying an additional 7,413,287 shares during the last quarter. Fred Alger Management Inc. boosted its holdings in Blackstone Group by 23.8% in the 2nd quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock worth $209,763,000 after buying an additional 1,211,146 shares during the last quarter. Swedbank boosted its holdings in Blackstone Group by 14.6% in the 3rd quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock worth $181,303,000 after buying an additional 693,200 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Blackstone Group by 101.0% in the 2nd quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock worth $133,008,000 after buying an additional 2,004,000 shares during the last quarter. Institutional investors own 46.91% of the company’s stock.
A number of equities research analysts have recently commented on BX shares. Bank of America raised their target price on Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Vetr cut Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a research report on Monday, December 4th. Zacks Investment Research cut Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Credit Suisse Group dropped their target price on Blackstone Group from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Finally, Oppenheimer restated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.25.
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Blackstone Group 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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