Blackstone Group LP (NYSE:BX) Shares Bought by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd grew its position in Blackstone Group LP (NYSE:BX) by 11.2% in the second quarter, HoldingsChannel reports. The fund owned 7,565 shares of the asset manager’s stock after acquiring an additional 763 shares during the quarter. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Blackstone Group were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp increased its stake in shares of Blackstone Group by 9.9% during the first quarter. Mackenzie Financial Corp now owns 2,048,602 shares of the asset manager’s stock worth $93,355,000 after purchasing an additional 184,391 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Blackstone Group by 246.2% in the 1st quarter. Schroder Investment Management Group now owns 22,992 shares of the asset manager’s stock valued at $1,071,000 after buying an additional 16,351 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Blackstone Group in the 1st quarter valued at approximately $56,000. State Street Corp grew its stake in shares of Blackstone Group by 6.6% in the 1st quarter. State Street Corp now owns 7,187,527 shares of the asset manager’s stock valued at $327,536,000 after buying an additional 447,454 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Blackstone Group in the 1st quarter valued at approximately $152,000. Institutional investors and hedge funds own 59.47% of the company’s stock.

Shares of NYSE BX traded up $0.53 during mid-day trading on Tuesday, reaching $53.20. The company had a trading volume of 159,581 shares, compared to its average volume of 4,878,081. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $53.05 and a two-hundred day simple moving average of $52.22. The stock has a market cap of $35.34 billion, a P/E ratio of 48.32 and a beta of 1.30. Blackstone Group LP has a 52-week low of $33.00 and a 52-week high of $64.97.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, July 23rd. The asset manager reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $1.16 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 14.38%. The company’s revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. On average, equities analysts expect that Blackstone Group LP will post 2.01 EPS for the current year.

In other Blackstone Group news, Director Joseph Baratta sold 434,815 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $53.00, for a total transaction of $23,045,195.00. Following the transaction, the director now directly owns 1,613,448 shares of the company’s stock, valued at approximately $85,512,744. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $54.07, for a total transaction of $2,162,800.00. Following the transaction, the insider now directly owns 211,880 shares in the company, valued at $11,456,351.60. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Several research firms have recently weighed in on BX. Citigroup cut shares of Blackstone Group from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. TheStreet upgraded shares of Blackstone Group from a “c” rating to a “b” rating in a report on Thursday, July 23rd. UBS Group decreased their price objective on shares of Blackstone Group from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Barclays upped their price objective on shares of Blackstone Group from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Deutsche Bank decreased their price objective on shares of Blackstone Group from $50.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.95.

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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