Blackstone Group LP (BX) Shares Bought by Bramshill Investments LLC

Bramshill Investments LLC boosted its stake in Blackstone Group LP (NYSE:BX) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 120,469 shares of the asset manager’s stock after buying an additional 3,106 shares during the quarter. Blackstone Group accounts for approximately 1.5% of Bramshill Investments LLC’s portfolio, making the stock its 9th biggest position. Bramshill Investments LLC’s holdings in Blackstone Group were worth $3,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Blackstone Group by 0.7% in the first quarter. Wells Fargo & Company MN now owns 3,637,265 shares of the asset manager’s stock valued at $116,210,000 after purchasing an additional 26,677 shares during the period. American Century Companies Inc. acquired a new stake in Blackstone Group in the first quarter valued at about $240,000. Robeco Institutional Asset Management B.V. lifted its position in Blackstone Group by 28.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 160,000 shares of the asset manager’s stock valued at $5,112,000 after purchasing an additional 35,000 shares during the period. Aperio Group LLC acquired a new stake in Blackstone Group in the first quarter valued at about $317,000. Finally, US Bancorp DE lifted its position in Blackstone Group by 29.5% in the first quarter. US Bancorp DE now owns 51,560 shares of the asset manager’s stock valued at $1,647,000 after purchasing an additional 11,735 shares during the period. 48.80% of the stock is owned by institutional investors and hedge funds.

In other Blackstone Group news, Vice Chairman J Tomilson Hill sold 674,257 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $36.48, for a total value of $24,596,895.36. Following the completion of the transaction, the insider now directly owns 928,884 shares of the company’s stock, valued at $33,885,688.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 10,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $35.76, for a total transaction of $357,600.00. Following the completion of the transaction, the insider now directly owns 113,003 shares of the company’s stock, valued at $4,040,987.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 770,677 shares of company stock valued at $28,061,444. 1.00% of the stock is currently owned by corporate insiders.

Shares of Blackstone Group stock opened at $36.80 on Friday. Blackstone Group LP has a 12-month low of $29.57 and a 12-month high of $37.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.10 and a beta of 1.37.

Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, July 19th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.17. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 71.4% compared to the same quarter last year. sell-side analysts predict that Blackstone Group LP will post 3.08 earnings per share for the current year.

BX has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $40.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Oppenheimer set a $42.00 price objective on shares of Blackstone Group and gave the company a “buy” rating in a research report on Thursday, July 19th. Credit Suisse Group reduced their price objective on shares of Blackstone Group from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. Finally, Morgan Stanley reduced their price objective on shares of Blackstone Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.50.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

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