Now the shares of The Blackstone Group L.P. (BX) has a trading volume of 5.03 Million shares, with an average trading volume of 3060 shares - with shares dropping to a 52 week low of $21.45, and the company's shares hitting a 52 week high of $ 31.33.
A number of other hedge funds have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its stake in Blackstone Group by 27.3% in the third quarter. DT Investment Partners LLC raised its stake in Blackstone Group by 5.5% in the third quarter. Israel Discount Bank of New York GFN acquired a new position in Blackstone Group during the fourth quarter valued at approximately $135,000. Bourgeon Capital Management LLC now owns 109,350 shares of the company's stock valued at $2,792,000 after buying an additional 7,975 shares during the period. Wagner Bowman Management Corp raised its position in shares of Blackstone Group by 9.4% in the third quarter. With an institutional ownership near 51.1%, it carries an earnings per share ratio of 1.56. Pittenger & Anderson Inc. increased its position in Blackstone Group by 12.7% in the fourth quarter. Brick & Kyle Associates now owns 18,952 shares of the company's stock valued at $484,000 after buying an additional 2,429 shares during the period. Institutional investors own 43.26% of the company's stock.
The target price for The Blackstone Group L.P. (BX) is $35/share according to the consensus of analysts working on the stock, with an expected EPS of $0.68/share for the current quarter. The stock has a 50 day moving average of $29.68 and a 200 day moving average of $28.13. Blackstone Group LP has a one year low of $22.45 and a one year high of $31.69. The Blackstone Group L.P.'s quarterly revenue was up 74.9% on a year-over-year basis. The asset manager reported $0.68 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.64 by $0.04.
Sell-side analysts have also provided a consensus recommendation of 1.90 on company shares. Blackstone Group had a return on equity of 15.59% and a net margin of 20.08%.
The company reported an impressive total revenue of 5.13 Billion in the last fiscal year. The Renaissance Investment Group Llc holds 143,156 shares with $3.87 million value, up from 130,599 last quarter. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and worldwide trademark and copyright law. Credit Suisse Group upped their price target on The Blackstone Group L.P. and gave the company an "outperform" rating in a report on Wednesday, January 4th. Vetr upgraded Blackstone Group from a "hold" rating to a "buy" rating and set a $31.70 price target for the company in a report on Monday, January 9th. Barclays PLC reiterated a "buy" rating and issued a $34.00 target price on shares of Blackstone Group in a research note on Sunday, January 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company's stock. Jefferies maintained it with "Buy" rating and $40 target in Wednesday, October 7 report.
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In other news, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of The Blackstone Group L.P. stock in a transaction on Monday, November 21st.
The stock added in the prior trading session by 1.55%, closing at the stock price of $30.06. Following the completion of the transaction, the insider now owns 100,745 shares in the company, valued at $2,921,605. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the insider now owns 161,556 shares in the company, valued at $4,963,000.32.
The Blackstone Group L.P. (BX) belongs to the "Financial" sector with an industry focus on "Asset Management", with Mr. Stephen Allen Schwarzman as Co-Founder, Chairman and Chief Exec. Officer.
Blackstone's private equity business showed the most growth in economic net income at 291 percent, and its buyout funds appreciated 6.9 percent. It operates through four divisions: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The stock of Blackstone Group LP (NYSE:BX) has "Hold" rating given on Friday, March 11 by Deutsche Bank.