First American Trust FSB Sells 1,900 Shares of Blackstone Group LP (BX)

First American Trust FSB trimmed its position in shares of Blackstone Group LP (NYSE:BX) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,550 shares of the asset manager’s stock after selling 1,900 shares during the period. First American Trust FSB’s holdings in Blackstone Group were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Edge Wealth Management LLC increased its position in shares of Blackstone Group by 29.7% during the 4th quarter. Edge Wealth Management LLC now owns 13,100 shares of the asset manager’s stock valued at $391,000 after purchasing an additional 3,000 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Blackstone Group by 3.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 154,868 shares of the asset manager’s stock valued at $4,914,000 after purchasing an additional 5,241 shares during the last quarter. Carroll Financial Associates Inc. increased its position in shares of Blackstone Group by 153.1% during the 4th quarter. Carroll Financial Associates Inc. now owns 20,106 shares of the asset manager’s stock valued at $625,000 after purchasing an additional 12,163 shares during the last quarter. Cerebellum GP LLC increased its position in shares of Blackstone Group by 80.3% during the 4th quarter. Cerebellum GP LLC now owns 8,907 shares of the asset manager’s stock valued at $266,000 after purchasing an additional 3,968 shares during the last quarter. Finally, PM CAPITAL Ltd increased its position in shares of Blackstone Group by 9.1% during the 4th quarter. PM CAPITAL Ltd now owns 805,864 shares of the asset manager’s stock valued at $24,023,000 after purchasing an additional 67,500 shares during the last quarter. 49.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of BX traded up $0.22 during midday trading on Friday, reaching $31.95. 188,505 shares of the stock were exchanged, compared to its average volume of 6,856,498. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $40.60. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.50 and a beta of 1.33.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Blackstone Group LP will post 2.85 EPS for the current year.

Several equities analysts have recently weighed in on BX shares. Morgan Stanley cut their target price on Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, January 4th. JPMorgan Chase & Co. set a $45.00 price objective on Blackstone Group and gave the company a “buy” rating in a research report on Thursday, September 20th. Zacks Investment Research downgraded Blackstone Group from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. ValuEngine raised Blackstone Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Finally, Argus upped their price objective on Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and a consensus target price of $42.54.

In other news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average price of $25.00 per share, with a total value of $4,800,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

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About Blackstone Group

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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