North Star Investment Management Corp. Acquires 5,473 Shares of Blackstone Group LP (BX)

North Star Investment Management Corp. grew its holdings in Blackstone Group LP (NYSE:BX) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,012 shares of the asset manager’s stock after acquiring an additional 5,473 shares during the period. Blackstone Group comprises 0.9% of North Star Investment Management Corp.’s holdings, making the stock its 19th biggest position. North Star Investment Management Corp.’s holdings in Blackstone Group were worth $7,205,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BX. FMR LLC lifted its stake in shares of Blackstone Group by 3.5% in the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock valued at $1,359,671,000 after purchasing an additional 1,387,363 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Blackstone Group by 1,142.0% in the 2nd quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock valued at $268,879,000 after purchasing an additional 7,413,287 shares during the period. Fred Alger Management Inc. lifted its stake in shares of Blackstone Group by 23.8% in the 2nd quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock valued at $209,763,000 after purchasing an additional 1,211,146 shares during the period. Swedbank lifted its stake in shares of Blackstone Group by 14.6% in the 3rd quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock valued at $181,303,000 after purchasing an additional 693,200 shares during the period. Finally, Capital World Investors lifted its stake in shares of Blackstone Group by 101.0% in the 2nd quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock valued at $133,008,000 after purchasing an additional 2,004,000 shares during the period. 46.40% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on BX. Morgan Stanley boosted their target price on shares of Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a research note on Thursday. Bank of America boosted their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Vetr cut shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 target price for the company. in a research note on Wednesday. Finally, Oppenheimer restated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and an average price target of $38.20.

Blackstone Group LP (BX) traded up $0.44 during trading hours on Thursday, reaching $34.18. 11,147,700 shares of the company’s stock were exchanged, compared to its average volume of 5,607,043. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $41,250.00, a PE ratio of 14.73, a PEG ratio of 0.54 and a beta of 1.37. Blackstone Group LP has a 52 week low of $28.45 and a 52 week high of $35.09.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the Zacks’ 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 net margin of 22.88% and a return on equity of 19.71%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. equities research analysts predict that Blackstone Group LP will post 2.8 earnings per share for the current year.

In other Blackstone Group news, major shareholder Group L.P. Blackstone bought 25,466 shares of Blackstone Group stock in a transaction dated Tuesday, December 26th. The stock was acquired at an average cost of $28.61 per share, for a total transaction of $728,582.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 800 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total transaction of $25,600.00. Following the completion of the sale, the insider now owns 87,852 shares of the company’s stock, valued at $2,811,264. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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

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