Standard Life Aberdeen plc acquired a new position in Blackstone Group LP (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 688,019 shares of the asset manager’s stock, valued at approximately $38,488,000. Standard Life Aberdeen plc owned approximately 0.10% of Blackstone Group at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BX. State Street Corp grew its stake in shares of Blackstone Group by 626.8% in the 4th quarter. State Street Corp now owns 6,740,073 shares of the asset manager’s stock worth $377,040,000 after buying an additional 5,812,651 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Blackstone Group by 93,800.6% in the fourth quarter. Bessemer Group Inc. now owns 2,466,768 shares of the asset manager’s stock worth $137,992,000 after acquiring an additional 2,464,141 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Blackstone Group by 10,281.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,295,384 shares of the asset manager’s stock worth $128,404,000 after acquiring an additional 2,273,274 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Blackstone Group in the fourth quarter worth $110,263,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Blackstone Group by 136,113.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,468,379 shares of the asset manager’s stock valued at $82,141,000 after acquiring an additional 1,467,301 shares in the last quarter. 55.40% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of Blackstone Group in a research report on Sunday, February 2nd. Wells Fargo & Co lifted their target price on shares of Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Deutsche Bank lifted their target price on shares of Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Argus upped their target price on shares of Blackstone Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $53.00 price target on shares of Blackstone Group in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.20.
NYSE:BX traded up $5.18 during mid-day trading on Thursday, reaching $48.00. The company’s stock had a trading volume of 12,232,690 shares, compared to its average volume of 6,688,038. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a market cap of $26.89 billion, a P/E ratio of 15.89, a PEG ratio of 0.79 and a beta of 1.54. The firm’s fifty day moving average price is $54.25 and its two-hundred day moving average price is $53.82. Blackstone Group LP has a 12-month low of $33.00 and a 12-month high of $64.97.
Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Blackstone Group had a net margin of 27.93% and a return on equity of 13.86%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm posted ($0.02) EPS. The business’s quarterly revenue was up 314.2% compared to the same quarter last year. Analysts predict that Blackstone Group LP will post 2.93 earnings per share for the current fiscal year.
Blackstone Group Company 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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