Nomura Holdings Inc. boosted its stake in shares of Blackstone Group L.P. (NYSE:BX) by 38.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 135,024 shares of the company’s stock after buying an additional 37,248 shares during the period. Nomura Holdings Inc.’s holdings in Blackstone Group L.P. were worth $3,319,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Trust N.A. raised its stake in Blackstone Group L.P. by 12.7% in the first quarter. Raymond James Trust N.A. now owns 19,739 shares of the company’s stock worth $554,000 after buying an additional 2,225 shares during the last quarter. First Manhattan Co. increased its position in shares of Blackstone Group L.P. by 2.6% in the first quarter. First Manhattan Co. now owns 115,880 shares of the company’s stock worth $3,250,000 after buying an additional 2,925 shares during the period. Douglas Lane & Associates LLC acquired a new position in shares of Blackstone Group L.P. during the first quarter worth about $19,526,000. Glenmede Trust Co. NA increased its position in shares of Blackstone Group L.P. by 11.1% in the first quarter. Glenmede Trust Co. NA now owns 24,400 shares of the company’s stock worth $683,000 after buying an additional 2,445 shares during the period. Finally, Investment Centers of America Inc. increased its position in shares of Blackstone Group L.P. by 14.4% in the first quarter. Investment Centers of America Inc. now owns 35,413 shares of the company’s stock worth $997,000 after buying an additional 4,453 shares during the period. 49.02% of the stock is currently owned by hedge funds and other institutional investors.
Blackstone Group L.P. (NYSE:BX) opened at 26.35 on Thursday. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 55.59 and a beta of 1.58. The firm’s 50-day moving average price is $27.13 and its 200-day moving average price is $26.69. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.24.
Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The business earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm posted $0.43 EPS. Blackstone Group L.P.’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that Blackstone Group L.P. will post $2.08 earnings per share for the current year.
Several research firms have recently weighed in on BX. TheStreet downgraded Blackstone Group L.P. to a “hold” rating in a report on Wednesday, June 15th. Deutsche Bank AG decreased their price target on Blackstone Group L.P. from $28.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, June 16th. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $28.90 price target for the company. in a report on Thursday, June 23rd. Barclays PLC decreased their price target on Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods decreased their price target on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, July 11th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Blackstone Group L.P. presently has a consensus rating of “Buy” and an average target price of $34.19.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the transaction, the insider now directly owns 42,967 shares in the company, valued at approximately $1,139,055.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.
About Blackstone Group L.P.
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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