Howland Capital Management LLC Takes $248,000 Position in Blackstone Group LP (NYSE:BX)

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Howland Capital Management LLC purchased a new stake in shares of Blackstone Group LP (NYSE:BX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,070 shares of the asset manager’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cypress Capital Management LLC WY purchased a new stake in shares of Blackstone Group during the 2nd quarter valued at about $25,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Blackstone Group during the 3rd quarter valued at about $28,000. Centaurus Financial Inc. boosted its holdings in shares of Blackstone Group by 194.0% during the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 683 shares during the last quarter. TCI Wealth Advisors Inc. purchased a new stake in shares of Blackstone Group during the 3rd quarter valued at about $32,000. Finally, Advocacy Wealth Management Services LLC purchased a new stake in shares of Blackstone Group during the 3rd quarter valued at about $34,000. 46.79% of the stock is currently owned by hedge funds and other institutional investors.

BX opened at $51.95 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.82. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.09 and a beta of 1.45. The company’s 50 day moving average is $49.69 and its 200 day moving average is $44.93. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $55.17.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.31 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The firm’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, analysts predict that Blackstone Group LP will post 2.27 EPS for the current fiscal year.

In other Blackstone Group news, insider Christopher Striano sold 7,000 shares of Blackstone Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $48.23, for a total transaction of $337,610.00. Following the transaction, the insider now owns 36,186 shares of the company’s stock, valued at $1,745,250.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joan Solotar sold 25,000 shares of Blackstone Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the transaction, the insider now directly owns 235,803 shares in the company, valued at approximately $12,693,275.49. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 694,319 shares of company stock worth $5,581,544 and have sold 9,161,966 shares worth $300,689,747. 1.00% of the stock is owned by insiders.

BX has been the topic of a number of recent analyst reports. Deutsche Bank raised their price target on shares of Blackstone Group from $42.00 to $45.00 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays set a $53.00 price target on shares of Blackstone Group and gave the company a “buy” rating in a report on Friday, October 11th. Wells Fargo & Co assumed coverage on shares of Blackstone Group in a report on Tuesday, October 1st. They issued an “outperform” rating and a $60.00 price objective on the stock. S&P Equity Research downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. Finally, BMO Capital Markets assumed coverage on shares of Blackstone Group in a report on Monday, October 7th. They issued a “market perform” rating and a $44.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Blackstone Group has an average rating of “Hold” and an average price target of $51.75.

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

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