Blackstone Group LP (NYSE:BX) is Fairview Capital Investment Management LLC’s 2nd Largest Position

Fairview Capital Investment Management LLC lifted its position in Blackstone Group LP (NYSE:BX) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,895,275 shares of the asset manager’s stock after buying an additional 143,875 shares during the quarter. Blackstone Group makes up 7.3% of Fairview Capital Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Fairview Capital Investment Management LLC’s holdings in Blackstone Group were worth $136,217,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in Blackstone Group by 49.9% during the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock worth $738,740,000 after purchasing an additional 7,030,805 shares during the period. Janus Henderson Group PLC increased its holdings in Blackstone Group by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 7,126,851 shares of the asset manager’s stock worth $249,226,000 after purchasing an additional 97,896 shares during the period. Neuberger Berman Group LLC increased its holdings in Blackstone Group by 1.9% during the 1st quarter. Neuberger Berman Group LLC now owns 3,806,889 shares of the asset manager’s stock worth $133,127,000 after purchasing an additional 69,545 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in Blackstone Group by 5.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,420,619 shares of the asset manager’s stock worth $101,968,000 after purchasing an additional 161,749 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Blackstone Group by 5.9% during the 1st quarter. Wells Fargo & Company MN now owns 3,339,579 shares of the asset manager’s stock worth $116,786,000 after purchasing an additional 186,805 shares during the period. Hedge funds and other institutional investors own 47.32% of the company’s stock.

Several research firms have recently issued reports on BX. Morgan Stanley upped their price objective on Blackstone Group from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised Blackstone Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, ValuEngine raised Blackstone Group from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.71.

Shares of NYSE:BX traded up $0.19 on Friday, hitting $44.14. 5,993,218 shares of the company’s stock were exchanged, compared to its average volume of 4,965,166. The stock has a market cap of $29.07 billion, a P/E ratio of 19.53, a P/E/G ratio of 0.96 and a beta of 1.41. Blackstone Group LP has a 1-year low of $26.88 and a 1-year high of $44.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.08). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.48 billion. Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts predict that Blackstone Group LP will post 2.36 EPS for the current year.

In other news, major shareholder Holdings L.P. Blackstone III bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $24.16 per share, with a total value of $1,812,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bennett J. Goodman sold 115,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the completion of the sale, the director now directly owns 250,000 shares of the company’s stock, valued at $9,895,000. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,144,688 shares of company stock valued at $27,579,009. Insiders own 1.00% of the company’s stock.

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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.

Further Reading: Cost of Equity For A Business, Investors

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

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