First Midwest Bank Trust Division maintained its stake in Blackstone Group L.P. (NYSE:BX) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,474 shares of the company’s stock at the end of the second quarter. First Midwest Bank Trust Division’s holdings in Blackstone Group L.P. were worth $208,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in BX. Glenmede Trust Co. NA boosted its stake in Blackstone Group L.P. by 11.1% in the first quarter. Glenmede Trust Co. NA now owns 24,400 shares of the company’s stock worth $683,000 after buying an additional 2,445 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Blackstone Group L.P. during the first quarter worth about $281,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Blackstone Group L.P. during the first quarter worth about $8,259,000. Algebris Investments UK LLP boosted its stake in shares of Blackstone Group L.P. by 254.0% in the first quarter. Algebris Investments UK LLP now owns 103,000 shares of the company’s stock worth $2,889,000 after buying an additional 73,900 shares in the last quarter. Finally, King Wealth Management Group LLC boosted its stake in shares of Blackstone Group L.P. by 10.9% in the first quarter. King Wealth Management Group LLC now owns 64,505 shares of the company’s stock worth $1,809,000 after buying an additional 6,326 shares in the last quarter. Institutional investors own 49.03% of the company’s stock.
Shares of Blackstone Group L.P. (NYSE:BX) traded down 0.44% during mid-day trading on Friday, reaching $24.68. The company’s stock had a trading volume of 2,548,742 shares. The company has a market cap of $15.50 billion, a PE ratio of 52.07 and a beta of 1.57. The company has a 50-day moving average price of $26.32 and a 200 day moving average price of $26.48. Blackstone Group L.P. has a 52-week low of $22.31 and a 52-week high of $35.00.
Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts expect that Blackstone Group L.P. will post $2.06 earnings per share for the current year.
A number of equities research analysts recently issued reports on the company. Deutsche Bank AG restated a “hold” rating on shares of Blackstone Group L.P. in a research note on Sunday, July 10th. Keefe, Bruyette & Woods lowered their price objective on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday, July 11th. Vetr upgraded Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $31.48 price objective on the stock in a research note on Monday, July 25th. Zacks Investment Research upgraded Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, TheStreet cut Blackstone Group L.P. to a “hold” rating in a research note on Wednesday, June 15th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $33.95.
In other news, insider Kathleen Skero sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the transaction, the insider now owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.
Blackstone Group L.P. Company Profile
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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