Blackstone Group LP (NYSE:BX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Blackstone Group LP (NYSE:BX) by 0.7% during the 1st quarter, Holdings Channel reports. The firm owned 744,866 shares of the asset manager’s stock after selling 5,151 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Blackstone Group were worth $26,048,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BX. Bank of Montreal Can lifted its position in shares of Blackstone Group by 49.9% during the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock worth $738,740,000 after buying an additional 7,030,805 shares during the period. Ellis Investment Partners LLC lifted its holdings in shares of Blackstone Group by 3,640.1% in the first quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after purchasing an additional 2,793,303 shares in the last quarter. Vantage Investment Partners LLC lifted its holdings in shares of Blackstone Group by 151.7% in the fourth quarter. Vantage Investment Partners LLC now owns 2,302,246 shares of the asset manager’s stock valued at $68,630,000 after purchasing an additional 1,387,663 shares in the last quarter. Fairview Capital Investment Management LLC lifted its holdings in shares of Blackstone Group by 29.1% in the fourth quarter. Fairview Capital Investment Management LLC now owns 3,751,400 shares of the asset manager’s stock valued at $111,829,000 after purchasing an additional 844,750 shares in the last quarter. Finally, RMB Capital Management LLC lifted its holdings in shares of Blackstone Group by 102.2% in the fourth quarter. RMB Capital Management LLC now owns 10,015 shares of the asset manager’s stock valued at $299,000 after purchasing an additional 468,000 shares in the last quarter. 47.32% of the stock is currently owned by institutional investors.

BX opened at $43.95 on Friday. The firm has a market cap of $28.30 billion, a PE ratio of 19.45, a PEG ratio of 0.93 and a beta of 1.41. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Blackstone Group LP has a one year low of $26.88 and a one year high of $44.00.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.48 billion. Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that Blackstone Group LP will post 2.36 EPS for the current fiscal year.

In other news, Director Bennett J. Goodman sold 115,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the transaction, the director now owns 250,000 shares in the company, valued at $9,895,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Blackstone III bought 75,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $24.16 per share, for a total transaction of $1,812,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,144,688 shares of company stock valued at $27,579,009. Insiders own 1.00% of the company’s stock.

A number of equities analysts have weighed in on BX shares. Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 3rd. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Morgan Stanley upped their target price on Blackstone Group from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.71.

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Blackstone Group Company 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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