CAPROCK Group Inc. lifted its holdings in shares of Blackstone Group LP (NYSE:BX) by 41.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,417 shares of the asset manager’s stock after buying an additional 11,036 shares during the period. CAPROCK Group Inc.’s holdings in Blackstone Group were worth $1,324,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC acquired a new position in Blackstone Group in the 3rd quarter worth about $131,000. Pathstone Family Office LLC acquired a new position in Blackstone Group in the 2nd quarter worth about $167,000. Jacobi Capital Management LLC increased its holdings in Blackstone Group by 65.6% in the 3rd quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock worth $192,000 after purchasing an additional 2,287 shares in the last quarter. New England Private Wealth Advisors LLC acquired a new position in Blackstone Group in the 3rd quarter worth about $200,000. Finally, Strategic Financial Group LLC acquired a new position in Blackstone Group in the 3rd quarter worth about $200,000. 46.53% of the stock is owned by institutional investors.
In related news, insider John G. Finley sold 800 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $32.00, for a total transaction of $25,600.00. Following the sale, the insider now owns 87,852 shares in the company, valued at approximately $2,811,264. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Group L.P. Blackstone bought 25,466 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were acquired at an average price of $28.61 per share, for a total transaction of $728,582.26. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. equities analysts forecast that Blackstone Group LP will post 2.79 earnings per share for the current year.
BX has been the subject of a number of recent research reports. Vetr cut Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $37.15 target price for the company. in a report on Monday, September 25th. Credit Suisse Group reaffirmed a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a report on Thursday, January 11th. Bank of America upped their target price on Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Blackstone Group from a “sell” rating to a “hold” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Blackstone Group currently has a consensus rating of “Buy” and a consensus price target of $39.40.
About Blackstone Group
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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