Bourgeon Capital Management LLC decreased its position in Blackstone Group LP (NYSE:BX) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 75,000 shares of the asset manager’s stock after selling 8,250 shares during the period. Bourgeon Capital Management LLC’s holdings in Blackstone Group were worth $2,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can boosted its stake in shares of Blackstone Group by 60.7% during the third quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock valued at $339,088,000 after acquiring an additional 3,362,373 shares during the last quarter. Capital International Investors purchased a new position in shares of Blackstone Group in the 3rd quarter worth about $82,710,000. ING Groep NV raised its holdings in shares of Blackstone Group by 234.9% in the 3rd quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock worth $77,695,000 after purchasing an additional 1,431,100 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Blackstone Group by 94.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,545,117 shares of the asset manager’s stock worth $96,924,000 after purchasing an additional 1,236,519 shares during the period. Finally, Credit Suisse AG raised its holdings in shares of Blackstone Group by 28.4% in the 3rd quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock worth $153,685,000 after purchasing an additional 892,933 shares during the period. 49.57% of the stock is currently owned by institutional investors.

Shares of BX traded up $0.33 during mid-day trading on Thursday, hitting $32.91. The stock had a trading volume of 1,434,854 shares, compared to its average volume of 5,639,678. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 2.76 and a beta of 1.33. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $40.60.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Blackstone Group LP will post 2.62 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. JMP Securities raised their price objective on Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, September 27th. ValuEngine downgraded Blackstone Group from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Morgan Stanley raised their target price on Blackstone Group from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, September 24th. Finally, Bank of America raised their target price on Blackstone Group from $40.00 to $46.00 and gave the company a “buy” rating in a report on Monday, September 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Blackstone Group presently has a consensus rating of “Buy” and an average target price of $42.54.

In other Blackstone Group news, major shareholder Blackstone Bgsl Holdings Llc bought 192,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $25.00 per share, with a total value of $4,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

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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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