Edge Wealth Management LLC trimmed its holdings in Blackstone Group LP (NYSE:BX) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,100 shares of the asset manager’s stock after selling 5,000 shares during the quarter. Edge Wealth Management LLC’s holdings in Blackstone Group were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Blackstone Group during the 4th quarter worth about $26,000. Sound Income Strategies LLC raised its holdings in Blackstone Group by 69.4% during the 1st quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after buying an additional 300 shares during the period. Essex Savings Bank acquired a new stake in Blackstone Group during the 4th quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Blackstone Group during the 4th quarter worth about $32,000. Finally, MCF Advisors LLC raised its holdings in Blackstone Group by 200.0% during the 4th quarter. MCF Advisors LLC now owns 1,500 shares of the asset manager’s stock worth $45,000 after buying an additional 1,000 shares during the period. 50.27% of the stock is owned by institutional investors.

A number of equities analysts have recently weighed in on BX shares. Morgan Stanley dropped their target price on Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.54.

NYSE:BX traded up $0.11 during mid-day trading on Thursday, reaching $34.87. The stock had a trading volume of 1,522,465 shares, compared to its average volume of 3,150,438. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $40.60. The company has a market capitalization of $22.89 billion, a P/E ratio of 15.43, a P/E/G ratio of 3.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Blackstone Group had a return on equity of 16.48% and a net margin of 22.56%. The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $381.19 million. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was down 74.2% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone Group LP will post 2.5 earnings per share for the current fiscal year.

In other news, major shareholder Holdings L.P. Blackstone III acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $24.16 per share, for a total transaction of $1,812,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 494,192 shares of company stock worth $11,793,325 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

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About Blackstone Group

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

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