M&R Capital Management Inc. trimmed its position in shares of Blackstone Group LP (NYSE:BX) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,205 shares of the asset manager’s stock after selling 2,000 shares during the quarter. M&R Capital Management Inc.’s holdings in Blackstone Group were worth $474,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC purchased a new stake in Blackstone Group during the 2nd quarter valued at about $116,000. Omnia Family Wealth LLC boosted its holdings in shares of Blackstone Group by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Blackstone Group during the 2nd quarter valued at about $167,000. Peddock Capital Advisors LLC purchased a new stake in shares of Blackstone Group during the 2nd quarter valued at about $187,000. Finally, Somerset Group LLC purchased a new stake in shares of Blackstone Group during the 2nd quarter valued at about $200,000. 46.91% of the stock is currently owned by institutional investors.

Blackstone Group LP (NYSE BX) opened at $31.76 on Thursday. Blackstone Group LP has a one year low of $26.60 and a one year high of $35.09. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. The firm has a market cap of $20,271.20, a P/E ratio of 11.56, a PEG ratio of 0.58 and a beta of 1.34.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The business’s quarterly revenue was up 21.4% on a year-over-year basis. research analysts expect that Blackstone Group LP will post 2.78 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target on the stock. in a report on Monday. BidaskClub downgraded shares of Blackstone Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Bank of America raised their price target on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $38.25.

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Blackstone Group Company Profile

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.

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

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