Kistler Tiffany Companies LLC decreased its holdings in shares of Blackstone Group LP (NYSE:BX) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,156 shares of the asset manager’s stock after selling 2,054 shares during the period. Kistler Tiffany Companies LLC’s holdings in Blackstone Group were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Nuveen Asset Management LLC purchased a new stake in shares of Blackstone Group during the second quarter valued at approximately $234,576,000. CIBC Private Wealth Group LLC grew its holdings in shares of Blackstone Group by 2,994.1% during the third quarter. CIBC Private Wealth Group LLC now owns 4,099,714 shares of the asset manager’s stock valued at $200,230,000 after buying an additional 3,967,214 shares during the last quarter. Waddell & Reed Financial Inc. grew its holdings in shares of Blackstone Group by 9.3% during the second quarter. Waddell & Reed Financial Inc. now owns 4,071,855 shares of the asset manager’s stock valued at $180,872,000 after buying an additional 346,457 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Blackstone Group during the fourth quarter valued at approximately $110,263,000. Finally, Chilton Investment Co. LLC grew its holdings in shares of Blackstone Group by 26.6% during the third quarter. Chilton Investment Co. LLC now owns 1,926,258 shares of the asset manager’s stock valued at $94,078,000 after buying an additional 404,407 shares during the last quarter. 53.37% of the stock is owned by institutional investors and hedge funds.

BX stock traded down $0.32 on Tuesday, hitting $58.11. The company had a trading volume of 2,611,248 shares, compared to its average volume of 3,236,794. Blackstone Group LP has a 12-month low of $31.99 and a 12-month high of $58.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $55.12 and its 200 day simple moving average is $50.63. The stock has a market cap of $38.06 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.13 and a beta of 1.44.

Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. Research analysts forecast that Blackstone Group LP will post 2.29 earnings per share for the current year.

In other Blackstone Group news, Vice Chairman Hamilton E. James sold 280,046 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $51.73, for a total value of $14,486,779.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $243,965,929.30. The disclosure for this sale can be found here. Insiders sold 16,608,103 shares of company stock worth $311,151,291 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

BX has been the topic of a number of recent analyst reports. Citigroup cut shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Wednesday, September 18th. They noted that the move was a valuation call. Deutsche Bank increased their price target on shares of Blackstone Group from $50.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Bank of America cut shares of Blackstone Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $54.00 to $52.00 in a report on Monday, October 14th. Wells Fargo & Co raised 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. Finally, ValuEngine cut shares of Blackstone Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $55.13.

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

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