Standard Life Aberdeen plc acquired a new position in shares of Blackstone Group LP (NYSE:BX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 688,019 shares of the asset manager’s stock, valued at approximately $38,488,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Ayalon Holdings Ltd. grew its holdings in shares of Blackstone Group by 0.9% in the fourth quarter. Ayalon Holdings Ltd. now owns 20,335 shares of the asset manager’s stock worth $1,138,000 after purchasing an additional 180 shares during the last quarter. Altium Wealth Management LLC grew its stake in Blackstone Group by 4.1% in the 4th quarter. Altium Wealth Management LLC now owns 4,584 shares of the asset manager’s stock worth $256,000 after acquiring an additional 182 shares in the last quarter. Brookstone Capital Management increased its position in shares of Blackstone Group by 3.3% during the fourth quarter. Brookstone Capital Management now owns 5,818 shares of the asset manager’s stock worth $325,000 after acquiring an additional 186 shares during the period. Institutional & Family Asset Management LLC increased its position in shares of Blackstone Group by 11.8% during the third quarter. Institutional & Family Asset Management LLC now owns 1,848 shares of the asset manager’s stock worth $90,000 after acquiring an additional 195 shares during the period. Finally, First American Trust FSB raised its stake in shares of Blackstone Group by 2.0% during the fourth quarter. First American Trust FSB now owns 10,250 shares of the asset manager’s stock valued at $574,000 after acquiring an additional 200 shares in the last quarter. 55.40% of the stock is owned by institutional investors.
Several research analysts recently issued reports on the company. Credit Suisse Group reissued a “buy” rating and issued a $65.00 price objective on shares of Blackstone Group in a research note on Sunday, February 2nd. Barclays reaffirmed a “buy” rating and set a $70.00 target price on shares of Blackstone Group in a research report on Sunday, February 2nd. Bank of America lowered their target price on Blackstone Group from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets reissued a “market perform” rating and set a $53.00 price target on shares of Blackstone Group in a research report on Friday, January 31st. Finally, Morgan Stanley cut their price target on Blackstone Group from $76.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.20.
BX stock traded up $5.18 during trading on Thursday, hitting $48.00. 12,232,690 shares of the company’s stock traded hands, compared to its average volume of 6,688,038. The firm has a market capitalization of $26.89 billion, a P/E ratio of 15.89, a PEG ratio of 0.79 and a beta of 1.54. The business has a fifty day simple moving average of $54.25 and a two-hundred day simple moving average of $53.82. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Blackstone Group LP has a 1 year low of $33.00 and a 1 year high of $64.97.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.55 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 13.86%. Blackstone Group’s revenue for the quarter was up 314.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts predict that Blackstone Group LP will post 2.93 EPS for the current fiscal year.
About Blackstone Group
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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