Blackstone Group LP (BX) Shares Gap Up After Earnings Beat

CVS hosted an event previewing the new store format's focus on health beauty and food categories

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Bank of Montreal Can increased its stake in The Blackstone Group L.P.by 65.5% in the third quarter.

Blackstone, led by CEO Steve Schwarzman, sold a record $6.2bn of private equity holdings during the quarter, including majority ownership in cyber-security company Optiv Security and shares of energy exploration company Kosmos Energy. Commerzbank Aktiengesellschaft FI increased its stake in The Blackstone Group L.P.by 49.0% in the second quarter. Following the sale, the director now owns 315,331 shares of the company's stock, valued at approximately $9,541,916.06. Tower Bridge Advisors raised its stake in Blackstone Group by 17.7% in the third quarter. Insiders own 1.00% of the company's stock. Wagner Bowman Management Corp raised its stake in Blackstone Group by 9.4% in the third quarter. Investors purchased 3,656 put options on the company.

Now the shares of The Blackstone Group L.P. (BX) has a trading volume of 5.03 Million shares, with an average trading volume of 3060 shares - with shares dropping to a 52 week low of $21.45, and the company's shares hitting a 52 week high of $ 31.33. 8,353,546 shares of the stock traded hands. Macquarie Group Ltd.'s holdings in Blackstone Group were worth $11,242,000 as of its most recent SEC filing. The Blackstone Group L.P. (NYSE:BX) shares have been recently spotted -3.30% away from the 52-week high, and 41.20% away from the 52-week low mark. The company had a trading volume of 1,231,388 shares.

With the recent move, the stock now boasts a market cap of 35968.29and a beta of 1.35. The Blackstone Group L.P. The firm's 50-day moving average price is $29.68 and its 200-day moving average price is $27.99.

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Blackstone Group LP executives said they are preparing to launch new ventures in infrastructure investing and other areas after the private-equity firm notched a record quarter for sales of older investments. The stock of Blackstone Group LP (NYSE:BX) has "Positive" rating given on Thursday, September 3 by Susquehanna. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm earned $1.57 billion during the quarter, compared to the consensus estimate of $1.52 billion. The company's quarterly revenue was up 108.1% compared to the same quarter previous year. HL Financial Services LLC raised its position in shares of Blackstone Group by 0.3% in the third quarter.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 13th. The ex-dividend date is Thursday, February 2nd. The Blackstone Group L.P.'s dividend payout ratio (DPR) is now 121.29%. Crescent Point Energy had 7 analyst reports since July 22, 2015 according to SRatingsIntel. Further, analysts have a 12 month target price of $35.00 on company shares. Vetr downgraded shares of Blackstone Group from a "strong-buy" rating to a "buy" rating and set a $30.38 price target on the stock.in a research note on Tuesday, January 3rd. Credit Suisse Group upped their price target on The Blackstone Group L.P. and gave the company an "outperform" rating in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Jefferies maintained it with "Buy" rating and $40 target in Wednesday, October 7 report.

In other Blackstone Group news, Director Bennett J. Goodman sold 635,075 shares of the firm's stock in a transaction on Friday, February 10th. The stock was sold at an average price of $22.66, for a total value of $220,443,210.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Shares for $290,000 were sold by Finley John G on Tuesday, November 8. The shares were sold at an average price of $30.26, for a total value of $19,217,369.50. Following the completion of the transaction, the insider now owns 100,745 shares in the company, valued at $2,921,605. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Overseeing $368.2bn across private equity, real estate, credit and hedge funds, Blackstone is considered a bellwether for the alternative-asset industry. Deutsche Bank maintained the shares of BX in report on Thursday, June 16 with "Hold" rating.

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