Honkamp Krueger Financial Services Inc. boosted its position in shares of Blackstone Group LP (NYSE:BX) by 133.8% during the first quarter, Holdings Channel reports. The firm owned 35,560 shares of the company’s stock after buying an additional 20,352 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Blackstone Group were worth $1,056,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. boosted its position in Blackstone Group by 12.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 4,000 shares of the company’s stock worth $108,000 after buying an additional 450 shares during the period. Advantage Investment Management LLC bought a new stake in shares of Blackstone Group during the fourth quarter worth about $111,000. TCI Wealth Advisors Inc. increased its stake in shares of Blackstone Group by 1.3% in the third quarter. TCI Wealth Advisors Inc. now owns 5,140 shares of the company’s stock worth $131,000 after buying an additional 66 shares in the last quarter. Israel Discount Bank of New York GFN bought a new stake in shares of Blackstone Group during the fourth quarter worth about $135,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Blackstone Group during the fourth quarter worth about $149,000. Institutional investors own 43.26% of the company’s stock.
Blackstone Group LP (NYSE:BX) traded down 0.65% during mid-day trading on Thursday, hitting $29.07. 1,630,011 shares of the stock were exchanged. The stock has a market cap of $18.67 billion, a PE ratio of 18.60 and a beta of 1.42. Blackstone Group LP has a 52-week low of $22.45 and a 52-week high of $31.69. The stock’s 50 day moving average is $29.72 and its 200 day moving average is $27.98.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 26th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.52 billion. Blackstone Group had a net margin of 20.08% and a return on equity of 15.59%. The business’s quarterly revenue was up 74.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. Analysts forecast that Blackstone Group LP will post $2.83 EPS for the current fiscal year.
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A number of brokerages have issued reports on BX. Zacks Investment Research downgraded shares of Blackstone Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Credit Suisse Group AG set a $40.00 price target on shares of Blackstone Group and gave the company a “buy” rating in a report on Wednesday, February 8th. Vetr upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $31.70 price target on the stock in a report on Monday, January 9th. Barclays PLC reiterated a “buy” rating and issued a $34.00 price target on shares of Blackstone Group in a report on Sunday, January 15th. Finally, Deutsche Bank AG began coverage on shares of Blackstone Group in a report on Monday, February 27th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and a consensus target price of $33.15.
In related news, Director Bennett J. Goodman sold 635,075 shares of the stock in a transaction on Friday, February 10th. The shares were sold at an average price of $30.26, for a total transaction of $19,217,369.50. Following the sale, the director now directly owns 315,331 shares of the company’s stock, valued at $9,541,916.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $22.67, for a total transaction of $220,540,492.99. The disclosure for this sale can be found here. Insiders sold 10,383,372 shares of company stock worth $240,372,262 in the last quarter. Company insiders own 1.00% of the company’s stock.
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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