Blackstone Group LP (BX) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC cut its stake in shares of Blackstone Group LP (NYSE:BX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,371 shares of the asset manager’s stock after selling 1,284 shares during the quarter. WESPAC Advisors LLC’s holdings in Blackstone Group were worth $995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HGK Asset Management Inc. lifted its stake in shares of Blackstone Group by 2.8% in the fourth quarter. HGK Asset Management Inc. now owns 14,886 shares of the asset manager’s stock valued at $444,000 after buying an additional 405 shares in the last quarter. Nwam LLC lifted its stake in shares of Blackstone Group by 9.9% in the fourth quarter. Nwam LLC now owns 7,608 shares of the asset manager’s stock valued at $227,000 after buying an additional 687 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Blackstone Group by 11.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 156,000 shares of the asset manager’s stock valued at $4,650,000 after buying an additional 16,335 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Blackstone Group by 6.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 5,906 shares of the asset manager’s stock valued at $176,000 after buying an additional 347 shares in the last quarter. Finally, First Manhattan Co. lifted its stake in shares of Blackstone Group by 51.9% in the fourth quarter. First Manhattan Co. now owns 29,870 shares of the asset manager’s stock valued at $890,000 after buying an additional 10,200 shares in the last quarter. 50.49% of the stock is currently owned by institutional investors and hedge funds.

NYSE BX opened at $34.00 on Friday. Blackstone Group LP has a 52-week low of $26.88 and a 52-week high of $40.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $22.52 billion, a P/E ratio of 15.04, a P/E/G ratio of 3.00 and a beta of 1.43.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $381.19 million. Blackstone Group had a return on equity of 16.33% and a net margin of 22.56%. Blackstone Group’s revenue for the quarter was down 74.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts anticipate that Blackstone Group LP will post 2.84 EPS for the current year.

The firm also recently announced a dividend, which will be paid on Tuesday, February 19th. Stockholders of record on Monday, February 11th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Friday, February 8th. Blackstone Group’s payout ratio is 113.27%.

In other Blackstone Group news, major shareholder Blackstone Bgsl Holdings Llc bought 192,000 shares of Blackstone Group stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $4,800,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

BX has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Oppenheimer set a $44.00 price objective on shares of Blackstone Group and gave the company a “buy” rating in a research note on Tuesday, October 16th. Morgan Stanley dropped their price objective on shares of Blackstone Group from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Finally, Deutsche Bank dropped their price objective on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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