Investors Asset Management of Georgia Inc. GA ADV trimmed its holdings in Blackstone Group LP (NYSE:BX) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,345 shares of the asset manager’s stock after selling 2,050 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone Group were worth $781,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of BX. Bank of Montreal Can raised its position in shares of Blackstone Group by 58.3% in the 4th quarter. Bank of Montreal Can now owns 14,094,176 shares of the asset manager’s stock worth $420,147,000 after acquiring an additional 5,189,588 shares in the last quarter. Vantage Investment Partners LLC boosted its stake in shares of Blackstone Group by 151.7% in the fourth quarter. Vantage Investment Partners LLC now owns 2,302,246 shares of the asset manager’s stock valued at $68,630,000 after purchasing an additional 1,387,663 shares during the period. Fairview Capital Investment Management LLC boosted its stake in shares of Blackstone Group by 29.1% in the fourth quarter. Fairview Capital Investment Management LLC now owns 3,751,400 shares of the asset manager’s stock valued at $111,829,000 after purchasing an additional 844,750 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Blackstone Group in the third quarter valued at approximately $17,889,000. Finally, RMB Capital Management LLC boosted its stake in shares of Blackstone Group by 102.2% in the fourth quarter. RMB Capital Management LLC now owns 10,015 shares of the asset manager’s stock valued at $299,000 after purchasing an additional 468,000 shares during the period. 50.27% of the stock is owned by hedge funds and other institutional investors.
In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III acquired 26,823 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $24.50 per share, with a total value of $657,163.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought a total of 567,316 shares of company stock worth $13,583,937 over the last 90 days. Insiders own 1.00% of the company’s stock.
Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $381.19 million. Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The company’s revenue for the quarter was down 74.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. Analysts forecast that Blackstone Group LP will post 2.45 EPS for the current year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Blackstone Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 3rd. Morgan Stanley cut their price objective on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.54.
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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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