19,317 Shares in Blackstone Group LP (BX) Purchased by Great Lakes Advisors LLC

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Great Lakes Advisors LLC acquired a new stake in Blackstone Group LP (NYSE:BX) in the third quarter, Holdings Channel reports. The firm acquired 19,317 shares of the asset manager’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Bank of Montreal Can lifted its stake in Blackstone Group by 60.7% in the third quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock valued at $339,088,000 after buying an additional 3,362,373 shares during the last quarter. Capital International Investors purchased a new stake in Blackstone Group in the third quarter valued at approximately $82,710,000. ING Groep NV lifted its stake in Blackstone Group by 234.9% in the third quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock valued at $77,695,000 after buying an additional 1,431,100 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Blackstone Group by 94.5% in the third quarter. Russell Investments Group Ltd. now owns 2,545,117 shares of the asset manager’s stock valued at $96,924,000 after buying an additional 1,236,519 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in Blackstone Group by 28.4% in the third quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock valued at $153,685,000 after buying an additional 892,933 shares during the last quarter. Institutional investors own 49.75% of the company’s stock.

NYSE:BX opened at $28.70 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37. Blackstone Group LP has a 1 year low of $28.62 and a 1 year high of $40.60.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. Blackstone Group’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, sell-side analysts anticipate that Blackstone Group LP will post 2.91 EPS for the current year.

A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on Blackstone Group from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. set a $45.00 price objective on Blackstone Group and gave the company a “buy” rating in a research note on Thursday, September 20th. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, September 18th. Morgan Stanley reduced their price objective on Blackstone Group from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Finally, ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.27.

In other news, major shareholder Blackstone Bgsl Holdings Llc bought 192,000 shares of the stock in a transaction on Tuesday, November 6th. The shares were bought at an average price of $25.00 per share, with a total value of $4,800,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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Blackstone Group Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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