Envestnet Asset Management Inc. trimmed its position in shares of The Blackstone Group (NYSE:BX) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,313 shares of the asset manager’s stock after selling 5,996 shares during the period. Envestnet Asset Management Inc.’s holdings in The Blackstone Group were worth $426,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Syntal Capital Partners LLC increased its position in shares of The Blackstone Group by 207.7% during the fourth quarter. Syntal Capital Partners LLC now owns 29,102 shares of the asset manager’s stock valued at $931,000 after buying an additional 19,645 shares during the period. BLB&B Advisors LLC purchased a new position in shares of The Blackstone Group during the fourth quarter valued at about $289,000. Neuberger Berman Group LLC increased its position in shares of The Blackstone Group by 135.5% during the third quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock valued at $64,812,000 after buying an additional 1,117,412 shares during the period. Factory Mutual Insurance Co. increased its position in shares of The Blackstone Group by 3.3% during the fourth quarter. Factory Mutual Insurance Co. now owns 1,861,000 shares of the asset manager’s stock valued at $59,589,000 after buying an additional 60,000 shares during the period. Finally, Pratt Collard Advisory Partners LLC purchased a new position in shares of The Blackstone Group during the fourth quarter valued at about $1,253,000. 48.43% of the stock is owned by hedge funds and other institutional investors.

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In other news, insider John G. Finley sold 22,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $34.15, for a total transaction of $751,300.00. Following the sale, the insider now owns 133,003 shares in the company, valued at $4,542,052.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman J Tomilson Hill sold 100,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $34.58, for a total transaction of $3,458,000.00. Following the sale, the insider now owns 1,410,304 shares in the company, valued at approximately $48,768,312.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 672,000 shares of company stock worth $23,130,874. Corporate insiders own 1.00% of the company’s stock.

Shares of BX opened at $31.05 on Tuesday. The stock has a market capitalization of $20,247.17, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.26 and a beta of 1.36. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 1.19. The Blackstone Group has a fifty-two week low of $28.86 and a fifty-two week high of $37.52.

The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The Blackstone Group had a net margin of 20.66% and a return on equity of 22.27%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. equities analysts predict that The Blackstone Group will post 3.04 earnings per share for the current year.

Several equities analysts recently issued reports on the stock. UBS assumed coverage on shares of The Blackstone Group in a research report on Tuesday, March 27th. They set a “market perform” rating on the stock. JPMorgan Chase cut shares of The Blackstone Group from an “overweight” rating to a “hold” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 price target on shares of The Blackstone Group in a research report on Thursday, February 1st. Vetr cut shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price target on the stock. in a research report on Wednesday, January 10th. Finally, ValuEngine upgraded shares of The Blackstone Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.90.

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The Blackstone Group Company 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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Institutional Ownership by Quarter for The Blackstone Group (NYSE:BX)

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