Carroll Financial Associates Inc. Boosts Stake in Blackstone Group LP (BX)

Carroll Financial Associates Inc. grew its position in Blackstone Group LP (NYSE:BX) by 153.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,106 shares of the asset manager’s stock after purchasing an additional 12,163 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Blackstone Group were worth $625,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Blackstone Group in the third quarter valued at approximately $114,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Blackstone Group in the third quarter valued at approximately $115,000. Rehmann Capital Advisory Group boosted its stake in shares of Blackstone Group by 94.9% in the second quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock valued at $156,000 after buying an additional 2,362 shares during the period. Honkamp Krueger Financial Services Inc. bought a new stake in shares of Blackstone Group in the third quarter valued at approximately $159,000. Finally, QCI Asset Management Inc. NY boosted its stake in shares of Blackstone Group by 800.0% in the third quarter. QCI Asset Management Inc. NY now owns 4,500 shares of the asset manager’s stock valued at $171,000 after buying an additional 4,000 shares during the period. 49.61% of the stock is currently owned by institutional investors.

In other news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on BX. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, October 17th. Morgan Stanley cut their price target on Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Bank of America upped their target price on Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. set a $45.00 target price on Blackstone Group and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, Citigroup upped their target price on Blackstone Group from $43.00 to $47.50 and gave the stock a “buy” rating in a research note on Monday, September 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Blackstone Group has an average rating of “Buy” and an average price target of $42.54.

NYSE BX opened at $31.97 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $40.60. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $0.69 EPS. Blackstone Group’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Blackstone Group LP will post 2.85 EPS for the current fiscal year.

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About Blackstone Group

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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