Usca Ria LLC Invests $1.39 Million in Blackstone Group LP (NYSE:BX)

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Usca Ria LLC purchased a new position in shares of Blackstone Group LP (NYSE:BX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 31,249 shares of the asset manager’s stock, valued at approximately $1,388,000.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can grew its stake in Blackstone Group by 49.9% in the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock valued at $738,740,000 after buying an additional 7,030,805 shares in the last quarter. Ellis Investment Partners LLC grew its stake in Blackstone Group by 3,640.1% in the 1st quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after buying an additional 2,793,303 shares in the last quarter. Artemis Investment Management LLP grew its stake in Blackstone Group by 92.0% in the 2nd quarter. Artemis Investment Management LLP now owns 2,050,040 shares of the asset manager’s stock valued at $90,868,000 after buying an additional 982,153 shares in the last quarter. Marshall Wace North America L.P. grew its stake in Blackstone Group by 273.2% in the 1st quarter. Marshall Wace North America L.P. now owns 261,651 shares of the asset manager’s stock valued at $9,150,000 after buying an additional 191,544 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Blackstone Group by 5.9% in the 1st quarter. Wells Fargo & Company MN now owns 3,339,579 shares of the asset manager’s stock valued at $116,786,000 after buying an additional 186,805 shares in the last quarter. Institutional investors own 45.54% of the company’s stock.

In other news, major shareholder Blackstone Group Inc purchased 79,368 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $7.07 per share, with a total value of $561,131.76. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Striano sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $48.23, for a total transaction of $337,610.00. Following the completion of the transaction, the insider now directly owns 36,186 shares of the company’s stock, valued at $1,745,250.78. The disclosure for this sale can be found here. Over the last three months, insiders acquired 290,576 shares of company stock valued at $2,232,218. Insiders own 1.00% of the company’s stock.

NYSE:BX traded up $1.51 during trading hours on Friday, hitting $47.23. The stock had a trading volume of 3,688,200 shares, compared to its average volume of 6,642,469. The company has a 50 day simple moving average of $46.79 and a two-hundred day simple moving average of $39.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.98. Blackstone Group LP has a one year low of $26.88 and a one year high of $49.81. The firm has a market capitalization of $30.24 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.00 and a beta of 1.47.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was down 43.5% compared to the same quarter last year. Equities research analysts anticipate that Blackstone Group LP will post 2.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, July 26th. Blackstone Group’s payout ratio is 84.96%.

BX has been the subject of a number of recent research reports. Deutsche Bank lifted their price objective on shares of Blackstone Group from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, July 19th. JMP Securities lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. Citigroup set a $52.00 price objective on shares of Blackstone Group and gave the company a “buy” rating in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Oppenheimer set a $52.00 price target on shares of Blackstone Group and gave the company a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Blackstone Group has a consensus rating of “Buy” and a consensus target price of $48.10.

Blackstone Group Company Profile

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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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

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