BB&T Securities LLC lessened its holdings in shares of Blackstone Group LP (NYSE:BX) by 12.1% in the 2nd quarter, Holdings Channel reports. The firm owned 191,918 shares of the asset manager’s stock after selling 26,529 shares during the quarter. BB&T Securities LLC’s holdings in Blackstone Group were worth $6,174,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Neuberger Berman Group LLC increased its stake in Blackstone Group by 166.1% during the first quarter. Neuberger Berman Group LLC now owns 5,737,885 shares of the asset manager’s stock valued at $183,325,000 after acquiring an additional 3,581,736 shares during the period. Natixis increased its stake in Blackstone Group by 43,717.6% during the first quarter. Natixis now owns 3,350,295 shares of the asset manager’s stock valued at $105,853,000 after acquiring an additional 3,342,649 shares during the period. Cornerstone Wealth Management LLC increased its stake in Blackstone Group by 3,337.0% during the second quarter. Cornerstone Wealth Management LLC now owns 1,846,134 shares of the asset manager’s stock valued at $55,672,000 after acquiring an additional 1,792,420 shares during the period. OppenheimerFunds Inc. bought a new position in Blackstone Group during the first quarter valued at about $34,627,000. Finally, ING Groep NV bought a new position in Blackstone Group during the second quarter valued at about $19,598,000. 48.80% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on BX. Zacks Investment Research lowered Blackstone Group from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Citigroup boosted their price target on Blackstone Group from $41.50 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $40.00 price target on shares of Blackstone Group in a research note on Friday, July 20th. Credit Suisse Group lowered their price target on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Finally, Morgan Stanley lowered their price objective on Blackstone Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $41.50.

In other news, Vice Chairman J Tomilson Hill sold 674,257 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $36.48, for a total value of $24,596,895.36. Following the sale, the insider now directly owns 928,884 shares in the company, valued at approximately $33,885,688.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total value of $179,900.00. Following the completion of the sale, the insider now owns 113,003 shares in the company, valued at $4,065,847.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 770,677 shares of company stock worth $28,061,444. Corporate insiders own 1.00% of the company’s stock.

BX stock opened at $35.64 on Wednesday. Blackstone Group LP has a 1-year low of $29.57 and a 1-year high of $37.52. The company has a market capitalization of $23.52 billion, a PE ratio of 12.68, a P/E/G ratio of 1.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.17. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was up 71.4% compared to the same quarter last year. analysts forecast that Blackstone Group LP will post 3.08 earnings per share for the current year.

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.

See Also: Risk Tolerance and Your Investment Decisions

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.