Swedbank Lowers stake in Blackstone Group LP (BX)

Blackstone Group LP (BX) : Swedbank reduced its stake in Blackstone Group LP by 0.76% during the most recent quarter end. The investment management company now holds a total of 11,478,337 shares of Blackstone Group LP which is valued at $296.1 Million after selling 88,447 shares in Blackstone Group LP , the firm said in a disclosure report filed with the SEC on May 11, 2016.Blackstone Group LP makes up approximately 2.47% of Swedbank’s portfolio.

Other Hedge Funds, Including , Ipswich Investment Management added BX to its portfolio by purchasing 950 company shares during the most recent quarter which is valued at $24,510. Blackstone Group LP makes up approx 0.01% of Ipswich Investment Management’s portfolio.Sonora Investment Management boosted its stake in BX in the latest quarter, The investment management firm added 17,380 additional shares and now holds a total of 22,827 shares of Blackstone Group LP which is valued at $588,937. Blackstone Group LP makes up approx 0.30% of Sonora Investment Management’s portfolio.Macguire Cheswick Tuttle Investment Counsel boosted its stake in BX in the latest quarter, The investment management firm added 3,700 additional shares and now holds a total of 95,815 shares of Blackstone Group LP which is valued at $2.6 Million. Blackstone Group LP makes up approx 0.60% of Macguire Cheswick Tuttle Investment Counsel’s portfolio.Russell Frank Co boosted its stake in BX in the latest quarter, The investment management firm added 220,526 additional shares and now holds a total of 311,626 shares of Blackstone Group LP which is valued at $8.6 Million. Blackstone Group LP makes up approx 0.01% of Russell Frank Co’s portfolio.Barrett Asset Management boosted its stake in BX in the latest quarter, The investment management firm added 70,187 additional shares and now holds a total of 676,001 shares of Blackstone Group LP which is valued at $18.5 Million. Blackstone Group LP makes up approx 1.59% of Barrett Asset Management’s portfolio.

Blackstone Group LP opened for trading at $25.81 and hit $26.19 on the upside on Monday, eventually ending the session at $25.93, with a gain of 0.50% or 0.13 points. The heightened volatility saw the trading volume jump to 37,86,914 shares. Company has a market cap of $30,919 M.

On the company’s financial health, Blackstone Group LP reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.39. The company had revenue of $929.40 million for the quarter, compared to analysts expectations of $985.61 million. The company’s revenue was down -63.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Blackstone Group LP. Shares were Downgraded by Deutsche Bank on Mar 11, 2016 to ” Hold” and Lowered the Price Target to $ 28 from a previous price target of $30 .

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 real estate hedge fund solutions non-investment grade credit secondary funds and multi-asset class exposures falling outside of other funds’ mandates. The Company’s segments include Private Equity Real Estate Hedge Fund Solutions and Credit. The Company’s Private Equity segment focuses on identifying managing and creating lasting value for its investors. The Company manages a number of global European and Asian focused opportunistic real estate funds several real estate debt investment funds a real estate investment trust (BXMT). The Company’s Hedge Fund Solutions group consists of Blackstone Alternative Asset Management (BAAM). Its credit business consists of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets.

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