Blackstone Group LP (NYSE:BX) major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of Blackstone Group stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $25.00 per share, for a total transaction of $4,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NYSE BX traded down $0.68 on Friday, hitting $31.42. 5,195,256 shares of the stock were exchanged, compared to its average volume of 5,223,221. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.04 and a beta of 1.37. Blackstone Group LP has a 52-week low of $30.08 and a 52-week high of $40.60.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. Blackstone Group’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. Equities research analysts anticipate that Blackstone Group LP will post 2.96 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BX. Rehmann Capital Advisory Group lifted its position in shares of Blackstone Group by 12.2% during the third quarter. Rehmann Capital Advisory Group now owns 5,443 shares of the asset manager’s stock worth $207,000 after purchasing an additional 593 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Blackstone Group during the third quarter worth $17,889,000. Marshall Wace LLP bought a new stake in shares of Blackstone Group during the third quarter worth $2,680,000. Great Lakes Advisors LLC bought a new stake in shares of Blackstone Group during the third quarter worth $736,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Blackstone Group during the third quarter worth $442,000. 50.12% of the stock is owned by institutional investors.

BX has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, August 16th. Argus raised their target price on shares of Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Bank of America raised their target price on shares of Blackstone Group from $40.00 to $46.00 and gave the company a “buy” rating in a report on Monday, September 24th. Citigroup raised their target price on shares of Blackstone Group from $43.00 to $47.50 and gave the company a “buy” rating in a report on Monday, September 24th. Finally, ValuEngine raised shares of Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.27.

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Blackstone Group Company 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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