Global Retirement Partners LLC lifted its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 8.0% during the fourth quarter, Holdings Channel reports. The fund owned 72,667 shares of the asset manager’s stock after acquiring an additional 5,401 shares during the period. Global Retirement Partners LLC’s holdings in The Blackstone Group were worth $4,710,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BX. Marshall Wace LLP purchased a new position in shares of The Blackstone Group during the 1st quarter worth approximately $50,000. Verition Fund Management LLC purchased a new position in The Blackstone Group during the second quarter worth $303,000. Glenmede Trust Co. NA increased its position in The Blackstone Group by 11.0% during the second quarter. Glenmede Trust Co. NA now owns 34,607 shares of the asset manager’s stock worth $1,960,000 after buying an additional 3,434 shares in the last quarter. Man Group plc raised its holdings in shares of The Blackstone Group by 253.0% in the second quarter. Man Group plc now owns 27,498 shares of the asset manager’s stock worth $1,558,000 after acquiring an additional 19,709 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of The Blackstone Group by 32.9% in the second quarter. Sei Investments Co. now owns 75,578 shares of the asset manager’s stock valued at $4,283,000 after acquiring an additional 18,718 shares in the last quarter. 59.77% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BX traded up $1.61 on Wednesday, hitting $64.19. 90,979 shares of the stock were exchanged, compared to its average volume of 2,780,558. The stock has a market cap of $43.26 billion, a PE ratio of 58.49 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $63.14 and a 200-day moving average of $56.33. The Blackstone Group Inc. has a fifty-two week low of $33.00 and a fifty-two week high of $65.75.
In other news, major shareholder Blackstone Bdc Holdings Llc bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The stock was bought at an average price of $25.00 per share, for a total transaction of $50,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Blackstone III purchased 42,425 shares of the stock in a transaction dated Monday, January 4th. The shares were purchased at an average price of $34.93 per share, with a total value of $1,481,905.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,042,365 shares of company stock worth $26,480,405. Company insiders own 1.00% of the company’s stock.
Several analysts have recently issued reports on the company. BidaskClub downgraded The Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 6th. Morgan Stanley reduced their price objective on The Blackstone Group from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. BMO Capital Markets upped their price objective on The Blackstone Group from $50.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, October 29th. Zacks Investment Research upgraded The Blackstone Group from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday. Finally, Oppenheimer upgraded The Blackstone Group from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Thursday, October 29th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.21.
The 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, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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