Cozad Asset Management Inc. purchased a new position in shares of Blackstone Group LP (NYSE:BX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 150,310 shares of the asset manager’s stock, valued at approximately $4,835,000. Blackstone Group accounts for 1.5% of Cozad Asset Management Inc.’s portfolio, making the stock its 15th biggest holding.

Several other institutional investors have also recently modified their holdings of BX. Quad Cities Investment Group LLC purchased a new stake in Blackstone Group during the second quarter worth about $122,000. AlphaMark Advisors LLC purchased a new stake in Blackstone Group during the first quarter worth about $141,000. Rockefeller Capital Management L.P. purchased a new stake in Blackstone Group during the first quarter worth about $142,000. Archford Capital Strategies LLC purchased a new stake in Blackstone Group during the first quarter worth about $147,000. Finally, BDO Wealth Advisors LLC purchased a new stake in Blackstone Group during the first quarter worth about $154,000. Institutional investors and hedge funds own 48.80% of the company’s stock.

Shares of NYSE BX opened at $35.94 on Friday. Blackstone Group LP has a 12-month low of $29.57 and a 12-month high of $37.52. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, July 19th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.17. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. equities analysts predict that Blackstone Group LP will post 3.08 EPS for the current fiscal year.

A number of analysts recently commented on BX shares. Citigroup boosted their price objective on shares of Blackstone Group from $41.50 to $43.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $40.00 price target on shares of Blackstone Group in a report on Friday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Blackstone Group in a report on Friday, July 20th. Oppenheimer set a $42.00 price target on shares of Blackstone Group and gave the company a “buy” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, August 16th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $41.50.

In related news, Vice Chairman J Tomilson Hill sold 674,257 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $36.48, for a total transaction of $24,596,895.36. Following the transaction, the insider now owns 928,884 shares of the company’s stock, valued at $33,885,688.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total transaction of $179,900.00. Following the transaction, the insider now directly owns 113,003 shares in the company, valued at approximately $4,065,847.94. The disclosure for this sale can be found here. Insiders have sold 770,677 shares of company stock worth $28,061,444 in the last three months. Insiders own 1.00% of the company’s stock.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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: Understanding Compound Annual Growth Rate (CAGR)

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

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