Flinton Capital Management LLC bought a new position in shares of Blackstone Group LP (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,744 shares of the asset manager’s stock, valued at approximately $185,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Blackstone Group during the first quarter valued at about $5,369,000. PNC Financial Services Group Inc. raised its position in shares of Blackstone Group by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 708,399 shares of the asset manager’s stock valued at $22,790,000 after buying an additional 19,278 shares during the last quarter. Independent Advisor Alliance raised its position in shares of Blackstone Group by 7.8% during the second quarter. Independent Advisor Alliance now owns 59,405 shares of the asset manager’s stock valued at $1,911,000 after buying an additional 4,304 shares during the last quarter. US Bancorp DE raised its position in shares of Blackstone Group by 29.5% during the first quarter. US Bancorp DE now owns 51,560 shares of the asset manager’s stock valued at $1,647,000 after buying an additional 11,735 shares during the last quarter. Finally, Fiduciary Group LLC raised its position in shares of Blackstone Group by 24.7% during the first quarter. Fiduciary Group LLC now owns 14,625 shares of the asset manager’s stock valued at $467,000 after buying an additional 2,900 shares during the last quarter. 48.80% of the stock is owned by hedge funds and other institutional investors.

NYSE BX opened at $35.94 on Friday. The stock has a market capitalization of $23.88 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37. Blackstone Group LP has a twelve month low of $29.57 and a twelve month high of $37.52. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, July 19th. The asset manager reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.17. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The firm’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. research analysts anticipate that Blackstone Group LP will post 3.08 earnings per share for the current fiscal year.

A number of brokerages have recently commented on BX. Zacks Investment Research lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Credit Suisse Group lowered their target price on shares of Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Citigroup upped their target price on shares of 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 reissued a “buy” rating and issued a $40.00 target price on shares of Blackstone Group in a research note on Friday, July 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $42.00 target price on shares of Blackstone Group in a research note on Friday, July 20th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Blackstone Group presently has an average rating of “Buy” and an average price target of $41.50.

In other Blackstone Group news, insider John G. Finley sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total transaction of $179,900.00. Following the sale, the insider now directly owns 113,003 shares of the company’s stock, valued at $4,065,847.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman J Tomilson Hill sold 81,420 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $35.95, for a total transaction of $2,927,049.00. Following the sale, the insider now directly owns 928,884 shares in the company, valued at $33,393,379.80. The disclosure for this sale can be found here. In the last three months, insiders sold 770,677 shares of company stock worth $28,061,444. 1.00% of the stock is currently owned by insiders.

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 Blackstone Group (NYSE:BX)

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