California Public Employees Retirement System Has $35.65 Million Stake in Blackstone Group LP (BX)

California Public Employees Retirement System cut its stake in shares of Blackstone Group LP (NYSE:BX) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,108,020 shares of the asset manager’s stock after selling 133,007 shares during the period. California Public Employees Retirement System owned 0.17% of Blackstone Group worth $35,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Blackstone Group by 2.9% in the second quarter. Janus Henderson Group PLC now owns 8,293,368 shares of the asset manager’s stock worth $266,801,000 after purchasing an additional 232,747 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Blackstone Group by 0.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,559,655 shares of the asset manager’s stock worth $113,731,000 after purchasing an additional 23,863 shares during the last quarter. Beck Mack & Oliver LLC increased its position in shares of Blackstone Group by 1.1% in the second quarter. Beck Mack & Oliver LLC now owns 3,432,778 shares of the asset manager’s stock worth $110,432,000 after purchasing an additional 36,924 shares during the last quarter. Natixis increased its position in shares of Blackstone Group by 43,717.6% in the first quarter. Natixis now owns 3,350,295 shares of the asset manager’s stock worth $105,853,000 after purchasing an additional 3,342,649 shares during the last quarter. Finally, HMI Capital LLC increased its position in shares of Blackstone Group by 5.5% in the first quarter. HMI Capital LLC now owns 2,797,707 shares of the asset manager’s stock worth $89,387,000 after purchasing an additional 145,000 shares during the last quarter. Hedge funds and other institutional investors own 48.75% of the company’s stock.

BX has been the topic of several research 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 reaffirmed a “buy” rating and issued a $40.00 target price on shares of Blackstone Group in a research note on Friday, July 20th. Oppenheimer set a $42.00 target price on Blackstone Group and gave the stock a “buy” rating in a research note on Thursday, July 19th. Credit Suisse Group cut their target price on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, July 20th. Finally, Morgan Stanley cut their target price on Blackstone Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Blackstone Group currently has a consensus rating of “Buy” and a consensus target price of $43.22.

In other news, insider John G. Finley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total transaction of $179,900.00. Following the completion of the sale, the insider now owns 113,003 shares of the company’s stock, valued at $4,065,847.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 10,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $35.76, for a total value of $357,600.00. Following the sale, the insider now directly owns 113,003 shares of the company’s stock, valued at approximately $4,040,987.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 770,677 shares of company stock valued at $28,061,444. 1.00% of the stock is owned by insiders.

Shares of BX opened at $39.69 on Tuesday. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.21 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Blackstone Group LP has a 1 year low of $29.57 and a 1 year high of $40.60.

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, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.17. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $1.74 billion. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. Blackstone Group’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. sell-side analysts anticipate that Blackstone Group LP will post 3.08 earnings per share for the current fiscal year.

About Blackstone Group

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

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