Centaurus Financial Inc. lifted its position in Blackstone Group LP (NYSE:BX) by 1,402.2% in the second quarter, HoldingsChannel reports. The firm owned 56,076 shares of the asset manager’s stock after purchasing an additional 52,343 shares during the quarter. Centaurus Financial Inc.’s holdings in Blackstone Group were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BX. Natixis boosted its holdings in Blackstone Group by 43,717.6% during the 1st quarter. Natixis now owns 3,350,295 shares of the asset manager’s stock valued at $105,853,000 after acquiring an additional 3,342,649 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in Blackstone Group by 3,337.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,846,134 shares of the asset manager’s stock valued at $55,672,000 after acquiring an additional 1,792,420 shares during the period. OppenheimerFunds Inc. purchased a new stake in Blackstone Group during the 1st quarter valued at about $34,627,000. ING Groep NV purchased a new stake in Blackstone Group during the 2nd quarter valued at about $19,598,000. Finally, Russell Investments Group Ltd. boosted its holdings in Blackstone Group by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,692,569 shares of the asset manager’s stock valued at $86,026,000 after acquiring an additional 604,211 shares during the period. Institutional investors own 48.80% of the company’s stock.

In other news, insider John G. Finley sold 10,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $35.76, for a total value of $357,600.00. Following the completion of the transaction, the insider now owns 113,003 shares of the company’s stock, valued at approximately $4,040,987.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman J Tomilson Hill sold 674,257 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $36.48, for a total value of $24,596,895.36. Following the completion of the transaction, the insider now directly owns 928,884 shares of the company’s stock, valued at approximately $33,885,688.32. The disclosure for this sale can be found here. Insiders sold a total of 770,677 shares of company stock valued at $28,061,444 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Several equities research analysts recently weighed in on BX shares. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, August 16th. Oppenheimer set a $42.00 price objective on Blackstone Group and gave the stock a “buy” rating in a report on Thursday, July 19th. Morgan Stanley increased their price objective on Blackstone Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a report on Friday, July 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $40.00 price objective on shares of Blackstone Group in a report on Friday, July 20th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.50.

NYSE BX opened at $35.94 on Friday. Blackstone Group LP has a fifty-two week low of $29.57 and a fifty-two week high of $37.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.17. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business posted $0.59 EPS. The business’s revenue was up 71.4% on a year-over-year basis. research analysts expect that Blackstone Group LP will post 3.08 earnings per share for the current year.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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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