Barnett & Company Inc. Boosts Stake in Blackstone Group LP (BX)

Barnett & Company Inc. grew its position in shares of Blackstone Group LP (NYSE:BX) by 16.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 27,189 shares of the asset manager’s stock after acquiring an additional 3,774 shares during the quarter. Barnett & Company Inc.’s holdings in Blackstone Group were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Blackstone Group by 3.5% during the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock valued at $1,359,671,000 after acquiring an additional 1,387,363 shares during the last quarter. Janus Henderson Group PLC lifted its position in Blackstone Group by 1,142.0% in the second 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. lifted its position in Blackstone Group by 23.8% in the second 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 lifted its position in Blackstone Group by 14.6% in the third 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 lifted its position in Blackstone Group by 101.0% in the second 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. Hedge funds and other institutional investors own 46.91% of the company’s stock.

Shares of Blackstone Group LP (NYSE BX) opened at $31.99 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. Blackstone Group LP has a 52 week low of $26.65 and a 52 week high of $35.09. The firm has a market capitalization of $20,214.43, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. sell-side analysts expect that Blackstone Group LP will post 2.78 EPS for the current year.

A number of analysts recently issued reports on the company. Morgan Stanley raised their price target on Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Bank of America raised their price target on Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Oppenheimer restated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Vetr downgraded Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $37.15 price target for the company. in a research report on Monday, September 25th. One investment 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 target price 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.

Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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