Is This A Much-Needed Win For The Blackstone Group L.P. (BX)?

The Blackstone Group L.P. (NYSE:BX) is on recovery track with 12.82% gain from a 1-year low price of $29.57. The company added 0.51% to attain the price of $33.36 on 11/13/2018. Throughout the recent session, the prices were hovering between $33.26 and $33.84. These shares are 32.64% off its target price of $44.25 and the current market capitalization stands at $41.75B. The recent change has given its price a -6.6% deficit over SMA 50 and -17.83% deficit over its 52-week high. The stock witnessed -5.09% declines, -5.79% declines and 6.62% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found BX’s volatility during a week at 2.89% and during a month it has been found around 3.5%.

The Blackstone Group L.P. (BX) Top Holders

Institutional investors currently hold around $10.83 billion or 51.6% in BX stock. Look at its top three institutional owners. Morgan Stanley owns $1.02 billion in The Blackstone Group L.P., which represents roughly 2.45% of the company’s market cap and approximately 9.46% of the institutional ownership. Similar statistics are true for the second largest owner, Bank Of America Corp /De/, which owns 25,096,307 shares of the stock are valued at $832.95 million. The third largest holder is Jpmorgan Chase & Co, which currently holds $682.8 million worth of this stock and that ownership represents nearly 1.64% of its market capitalization.

The Blackstone Group L.P. 13F Filings

At the end of June reporting period, 316 institutional holders increased their position in The Blackstone Group L.P. (NYSE:BX) by some 38,890,568 shares, 260 decreased positions by 23,084,585 and 158 held positions by 264,318,012. That puts total institutional holdings at 326,293,165 shares, according to SEC filings. The stock grabbed 76 new institutional investments totaling 2,764,699 shares while 43 institutional investors sold out their entire positions totaling 5,080,829 shares.

The Blackstone Group L.P. (NYSE:BX) Insider Trades

Multiple company employees have indulged in significant insider trading. The Blackstone Group L.P. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Vice Chairman Hill J Tomilson has sold 674,257 shares of The Blackstone Group L.P. (BX) in trading session dated Aug. 20, 2018. These shares are worth $24,596,895 and were traded at $36.48 each. The SEC filing shows that Finley John G performed a sale of 10,000 shares. The Chief Legal Officer disposed these shares by way of transaction on Aug. 10, 2018. The company’s shares were given away at $35.76 per share worth to an income of some $357,600 on account of Finley John G.

Chief Legal Officer, Finley John G, sold 20,000 common shares of The Blackstone Group L.P. (BX) in the open market. In a transaction dated Jun. 12, 2018, the shares were put up for sale at an average price of $33.23, raking in a sum of $664,600. After this sale, 190,007 common shares of BX are directly owned by the insider, with total stake valued at $6,338,634.

In the transaction dated Mar. 09, 2018, the great number of shares disposed came courtesy the Vice Chairman; Hill J Tomilson disposed a total of 53,037 shares at an average price of $34.01, amounting to approximately $1,803,788. The insider now directly owns 2,708,746 shares worth $90,363,767.

The Blackstone Group L.P. (BX) Analyst Guide

Several analysts have released their opinion on The Blackstone Group L.P. (NYSE:BX), with 6 analysts believing it is a strong buy. Whereas 1 of them predict the stock is a hold. Also, there are 7 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1.64 average brokerage recommendation.