Kistler Tiffany Companies LLC decreased its holdings in shares of Blackstone Group LP (NYSE:BX) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,156 shares of the asset manager’s stock after selling 2,054 shares during the quarter. Kistler Tiffany Companies LLC’s holdings in Blackstone Group were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burt Wealth Advisors purchased a new position in shares of Blackstone Group during the 3rd quarter valued at $26,000. Lenox Wealth Advisors LLC purchased a new position in shares of Blackstone Group during the 3rd quarter valued at $28,000. Hartford Financial Management Inc. purchased a new position in shares of Blackstone Group during the 3rd quarter valued at $30,000. TCI Wealth Advisors Inc. purchased a new position in shares of Blackstone Group during the 3rd quarter valued at $32,000. Finally, Reilly Financial Advisors LLC grew its position in shares of Blackstone Group by 112.9% during the 3rd quarter. Reilly Financial Advisors LLC now owns 692 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 367 shares in the last quarter. Hedge funds and other institutional investors own 53.37% of the company’s stock.

NYSE:BX traded down $0.32 during midday trading on Tuesday, hitting $58.11. The company had a trading volume of 2,611,248 shares, compared to its average volume of 3,236,794. Blackstone Group LP has a 52-week low of $31.99 and a 52-week high of $58.84. The stock’s fifty day moving average price is $55.12 and its 200-day moving average price is $50.63. The company has a market capitalization of $38.06 billion, a PE ratio of 25.71, a P/E/G ratio of 1.13 and a beta of 1.44. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Blackstone Group (NYSE:BX) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. As a group, research analysts forecast that Blackstone Group LP will post 2.29 earnings per share for the current year.

In other Blackstone Group news, major shareholder Blackstone Group Inc sold 8,875,211 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $2.50, for a total transaction of $22,188,027.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $243,965,929.30. The disclosure for this sale can be found here. Insiders sold 16,608,103 shares of company stock valued at $311,151,291 over the last quarter. 1.00% of the stock is owned by company insiders.

Several brokerages recently issued reports on BX. Oppenheimer lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets began coverage on shares of Blackstone Group in a research report on Monday, October 7th. They issued a “market perform” rating and a $44.00 target price for the company. Deutsche Bank upped their target price on shares of Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Co upped their target price on shares of Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.13.

Blackstone Group Profile

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.

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

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