L & S Advisors Inc acquired a new position in Blackstone Group LP (NYSE:BX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 138,712 shares of the asset manager’s stock, valued at approximately $6,162,000. Blackstone Group accounts for approximately 0.8% of L & S Advisors Inc’s investment portfolio, making the stock its 26th biggest holding.
A number of other hedge funds also recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in Blackstone Group by 5.7% in the 2nd quarter. US Bancorp DE now owns 135,398 shares of the asset manager’s stock valued at $6,015,000 after acquiring an additional 7,302 shares during the last quarter. Grandeur Peak Global Advisors LLC acquired a new stake in Blackstone Group in the 2nd quarter valued at about $1,425,000. Scotia Capital Inc. lifted its holdings in Blackstone Group by 13.5% in the 2nd quarter. Scotia Capital Inc. now owns 86,034 shares of the asset manager’s stock valued at $3,822,000 after acquiring an additional 10,236 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Blackstone Group by 1.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 503,030 shares of the asset manager’s stock valued at $22,345,000 after acquiring an additional 4,753 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in Blackstone Group by 157.4% in the 2nd quarter. IHT Wealth Management LLC now owns 22,768 shares of the asset manager’s stock valued at $1,016,000 after acquiring an additional 13,923 shares during the last quarter. 47.20% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Citigroup boosted their price objective on Blackstone Group from $51.50 to $52.00 and gave the stock a “buy” rating in a report on Monday. Barclays assumed coverage on Blackstone Group in a report on Monday, August 5th. They set an “overweight” rating and a $56.00 price objective on the stock. Deutsche Bank boosted their price objective on Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Oppenheimer set a $52.00 price objective on Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, JMP Securities downgraded Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.10.
Shares of BX opened at $53.39 on Friday. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.05 and a beta of 1.47. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $52.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50-day moving average is $48.44 and its 200-day moving average is $41.76.
Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. The firm’s quarterly revenue was down 43.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities research analysts expect that Blackstone Group LP will post 2.32 earnings per share for the current fiscal year.
Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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