Blackstone Group LP (BX) Holdings Raised by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group boosted its holdings in Blackstone Group LP (NYSE:BX) by 94.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,850 shares of the asset manager’s stock after purchasing an additional 2,362 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Blackstone Group were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BX. American Century Companies Inc. bought a new position in Blackstone Group during the 1st quarter worth about $240,000. Aperio Group LLC acquired a new stake in Blackstone Group during the first quarter worth approximately $317,000. US Bancorp DE lifted its position in Blackstone Group by 29.5% during the first quarter. US Bancorp DE now owns 51,560 shares of the asset manager’s stock worth $1,647,000 after acquiring an additional 11,735 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Blackstone Group during the first quarter worth approximately $142,000. Finally, BlackRock Inc. acquired a new stake in shares of Blackstone Group in the first quarter valued at approximately $5,369,000. 48.75% of the stock is owned by hedge funds and other institutional investors.

NYSE:BX opened at $37.25 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a market cap of $25.41 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.17 and a beta of 1.32. Blackstone Group LP has a one year low of $29.57 and a one year high of $40.60.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.17. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 71.4% compared to the same quarter last year. On average, equities analysts predict that Blackstone Group LP will post 3.08 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on BX shares. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, August 16th. Citigroup lifted their price objective on shares of Blackstone Group from $41.50 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $40.00 target price on shares of Blackstone Group in a research note on Friday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Blackstone Group in a research note on Friday, July 20th. Finally, Oppenheimer set a $42.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a research note on Thursday, July 19th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Blackstone Group presently has an average rating of “Buy” and an average target price of $43.54.

In related news, Vice Chairman J Tomilson Hill sold 674,257 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $36.48, for a total transaction of $24,596,895.36. Following the sale, the insider now directly owns 928,884 shares in the company, valued at approximately $33,885,688.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $35.76, for a total transaction of $357,600.00. Following the sale, the insider now owns 113,003 shares in the company, valued at $4,040,987.28. The disclosure for this sale can be found here. Insiders have sold a total of 770,677 shares of company stock valued at $28,061,444 over the last three months. Insiders own 1.00% of the company’s stock.

Blackstone Group Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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