First Heartland Consultants Inc. lowered its position in shares of Blackstone Group LP (NYSE:BX) by 52.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,702 shares of the asset manager’s stock after selling 7,298 shares during the quarter. First Heartland Consultants Inc.’s holdings in Blackstone Group were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Omnia Family Wealth LLC boosted its position in shares of Blackstone Group by 0.5% in the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of Blackstone Group by 0.6% in the 2nd quarter. Mosaic Family Wealth LLC now owns 7,108 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 45 shares during the period. Linscomb & Williams Inc. boosted its position in shares of Blackstone Group by 0.8% in the 2nd quarter. Linscomb & Williams Inc. now owns 9,182 shares of the asset manager’s stock valued at $306,000 after purchasing an additional 69 shares during the period. Gofen & Glossberg LLC IL boosted its position in shares of Blackstone Group by 1.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock valued at $282,000 after purchasing an additional 110 shares during the period. Finally, Baldwin Investment Management LLC boosted its position in shares of Blackstone Group by 1.8% in the 2nd quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock valued at $382,000 after purchasing an additional 200 shares during the period. 46.91% of the stock is owned by institutional investors and hedge funds.

Shares of Blackstone Group LP (BX) opened at $32.05 on Wednesday. Blackstone Group LP has a 1 year low of $26.65 and a 1 year high of $35.09. The company has a market capitalization of $20,290.12, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.14. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. equities analysts predict that Blackstone Group LP will post 2.78 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, October 23rd. Oppenheimer reiterated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. Credit Suisse Group decreased their price target on Blackstone Group from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Vetr upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating and set a $35.50 price objective for the company in a research report on Monday, November 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.25.

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About Blackstone Group

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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

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