Unio Capital LLC increased its holdings in shares of Blackstone Group LP (NYSE:BX) by 16.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,129 shares of the asset manager’s stock after buying an additional 33,429 shares during the quarter. Blackstone Group accounts for approximately 6.3% of Unio Capital LLC’s holdings, making the stock its 2nd biggest position. Unio Capital LLC’s holdings in Blackstone Group were worth $7,609,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Cedar Hill Associates LLC grew its stake in Blackstone Group by 15.6% in the first quarter. Cedar Hill Associates LLC now owns 12,570 shares of the asset manager’s stock valued at $402,000 after purchasing an additional 1,700 shares in the last quarter. Abbot Financial Management Inc. grew its stake in Blackstone Group by 6.7% in the first quarter. Abbot Financial Management Inc. now owns 27,750 shares of the asset manager’s stock valued at $887,000 after purchasing an additional 1,750 shares in the last quarter. Cetera Advisors LLC grew its stake in Blackstone Group by 4.4% in the fourth quarter. Cetera Advisors LLC now owns 45,169 shares of the asset manager’s stock valued at $1,447,000 after purchasing an additional 1,924 shares in the last quarter. Sandy Spring Bank grew its stake in Blackstone Group by 11.9% in the first quarter. Sandy Spring Bank now owns 19,660 shares of the asset manager’s stock valued at $628,000 after purchasing an additional 2,085 shares in the last quarter. Finally, High Falls Advisors Inc grew its stake in Blackstone Group by 13.9% in the first quarter. High Falls Advisors Inc now owns 17,562 shares of the asset manager’s stock valued at $561,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors and hedge funds own 49.63% of the company’s stock.
In related news, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $33.23, for a total transaction of $664,600.00. Following the completion of the transaction, the insider now owns 113,003 shares of the company’s stock, valued at approximately $3,755,089.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
NYSE BX opened at $32.17 on Friday. Blackstone Group LP has a twelve month low of $29.57 and a twelve month high of $37.52. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.71. The stock has a market cap of $20.98 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, April 19th. The asset manager reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.19. Blackstone Group had a return on equity of 23.94% and a net margin of 19.82%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. analysts expect that Blackstone Group LP will post 2.89 EPS for the current year.
A number of analysts have weighed in on BX shares. UBS Group started coverage on Blackstone Group in a research report on Tuesday, March 27th. They issued a “market perform” rating for the company. ValuEngine cut Blackstone Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Finally, Morgan Stanley boosted their price target on Blackstone Group from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.99.
Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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