Focused Wealth Management Inc grew its position in shares of Blackstone Group LP (NYSE:BX) by 3.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 81,071 shares of the asset manager’s stock after acquiring an additional 2,533 shares during the quarter. Blackstone Group makes up 1.1% of Focused Wealth Management Inc’s holdings, making the stock its 17th largest holding. Focused Wealth Management Inc’s holdings in Blackstone Group were worth $4,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of Blackstone Group in the 1st quarter worth $50,000. Bank of New York Mellon Corp increased its stake in Blackstone Group by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,688 shares of the asset manager’s stock worth $6,249,000 after buying an additional 11,523 shares in the last quarter. Invesco Ltd. increased its stake in Blackstone Group by 138.6% in the 2nd quarter. Invesco Ltd. now owns 881,761 shares of the asset manager’s stock worth $39,167,000 after buying an additional 512,268 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Blackstone Group by 42.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,212 shares of the asset manager’s stock worth $54,000 after buying an additional 363 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in Blackstone Group in the 2nd quarter worth $803,000. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BX traded up $0.41 during midday trading on Tuesday, hitting $61.17. 4,923,416 shares of the company traded hands, compared to its average volume of 3,677,815. The firm has a 50 day moving average of $56.14 and a 200-day moving average of $51.22. Blackstone Group LP has a 52 week low of $32.17 and a 52 week high of $61.76. The stock has a market cap of $40.06 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue was down 9.9% on a year-over-year basis. Sell-side analysts predict that Blackstone Group LP will post 2.26 earnings per share for the current fiscal year.

In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $35.54, for a total value of $243,965,929.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Hamilton E. James sold 280,046 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $51.73, for a total transaction of $14,486,779.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,608,103 shares of company stock valued at $311,151,291 in the last three months. Insiders own 1.00% of the company’s stock.

A number of equities research analysts have issued reports on the company. ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lowered Blackstone Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $54.00 to $52.00 in a research note on Monday, October 14th. Deutsche Bank increased their price target on Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Oppenheimer lowered Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price target on Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Blackstone Group presently has a consensus rating of “Hold” and an average target price of $55.13.

About Blackstone Group

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.

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

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