Institutional Move: Blackstone Group LP (BX) Stock Rose While Ing Groep Nv Has Lowered Holding

Institutional Move: Blackstone Group LP (BX) Stock Rose While Ing Groep Nv Has Lowered Holding

Ing Groep Nv decreased its stake in Blackstone Group LP (BX) by 27.24% based on its latest 2016Q3 regulatory filing with the SEC. Ing Groep Nv sold 4.32M shares as the company’s stock rose 4.20% with the market. The institutional investor held 11.53M shares of the investment managers company at the end of 2016Q3, valued at $288.94 million, down from 15.85 million at the end of the previous reported quarter. Ing Groep Nv who had been investing in Blackstone Group LP for a number of months, seems to be less bullish one the $35.43 billion market cap company. The stock is down 0.20% or $0.06 after the negative news, hitting $30.01 per share. About 2.54M shares traded hands. Blackstone Group LP (NYSE:BX) has risen 12.54% since June 7, 2016 and is uptrending. It has outperformed by 5.12% the S&P500.

Ing Groep Nv, which manages about $5.88B and $8.29B US Long portfolio, upped its stake in Alphabet Inc Cap Stk by 9,386 shares to 67,445 shares, valued at $54.13 million in 2016Q3, according to the filing. It also increased its holding in Berkshire Hathaway Inc Del (BRKB) by 55,222 shares in the quarter, for a total of 65,553 shares, and has risen its stake in Shell Midstream Partners L P.

Ing Groep Nv is a Netherlands-based institutional investor with more than $5.88 billion AUM in March, 2014. Taken from Ing Groep latest Adv, the fund reported to have 850 full and part-time employees. Among which 70 performing investment advisory and research functions. The institutional investor had between 11-25 clients.

Insitutional Activity: The institutional sentiment increased to 1.28 in 2016 Q3. Its up 0.31, from 0.97 in 2016Q2. The ratio is positive, as 28 funds sold all BX shares owned while 136 reduced positions. 49 funds bought stakes while 161 increased positions. They now own 267.82 million shares or 0.44% more from 266.64 million shares in 2016Q2. Bnp Paribas Prtn Sa has invested 0.13% of its portfolio in Blackstone Group LP (NYSE:BX). Moreover, E&G Advsrs Lp has 0.53% invested in Blackstone Group LP (NYSE:BX) for 35,219 shares. Parallax Volatility Advisers LP reported 884,178 shares or 0.04% of all its holdings. Citadel Advsrs Ltd Llc holds 263,944 shares or 0.01% of its portfolio. Moreover, Wells Fargo & Company Mn has 0.02% invested in Blackstone Group LP (NYSE:BX) for 2.46M shares. Baker Avenue Asset Lp accumulated 15,000 shares or 0.05% of the stock. Legal & General Gp Public Llc holds 993,576 shares or 0.03% of its portfolio. Parsons Cap Inc Ri holds 0.06% of its portfolio in Blackstone Group LP (NYSE:BX) for 16,500 shares. Jrm Counsel Ltd Llc last reported 2.26% of its portfolio in the stock. Honeywell Inc accumulated 0.3% or 340,000 shares. Janney Capital Limited Liability Corp owns 8,550 shares or 0.01% of their US portfolio. Lincoln Corp accumulated 0.01% or 8,067 shares. Eaton Vance Management last reported 25,656 shares in the company. Moreover, Credit Suisse Ag has 0.03% invested in Blackstone Group LP (NYSE:BX) for 1.33 million shares. Jpmorgan Chase & Com accumulated 5.20M shares or 0.03% of the stock.

Insider Transactions: Since August 15, 2016, the stock had 0 insider purchases, and 3 sales for $901,435 net activity. $306,570 worth of Blackstone Group LP (NYSE:BX) shares were sold by SKERO KATHLEEN. Finley John G had sold 10,000 shares worth $290,000.

Analysts await Blackstone Group LP (NYSE:BX) to report earnings on January, 26. They expect $0.59 EPS, up 59.46% or $0.22 from last year’s $0.37 per share. BX’s profit will be $696.56M for 12.72 P/E if the $0.59 EPS becomes a reality. After $0.57 actual EPS reported by Blackstone Group LP for the previous quarter, Wall Street now forecasts 3.51% EPS growth.

More recent Blackstone Group LP (NYSE:BX) news were published by: Reuters.com which released: “Brookdale Senior in deal talks with Blackstone, others: WSJ” on January 10, 2017. Also Reuters.com published the news titled: “Blackstone ends talks for $5 billion Energy Transfer stake” on January 09, 2017. Forbes.com‘s news article titled: “Blackstone’s $9.6 Billion Bet On The U.S. Housing Recovery Files To Go Public” with publication date: January 06, 2017 was also an interesting one.

According to Zacks Investment Research, “Blackstone is one of the world’s leading investment and advisory firms. Their alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.”

Blackstone Group LP (NYSE:BX) Ratings Coverage

Out of 14 analysts covering The Blackstone Group L.P. (NYSE:BX), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. The Blackstone Group L.P. has been the topic of 40 analyst reports since August 9, 2015 according to StockzIntelligence Inc. Oppenheimer upgraded the shares of BX in a report on Friday, October 16 to “Outperform” rating. JP Morgan initiated Blackstone Group LP (NYSE:BX) rating on Monday, November 23. JP Morgan has “Neutral” rating and $40 price target. As per Friday, March 11, the company rating was downgraded by Deutsche Bank. The rating was maintained by Jefferies on Wednesday, October 7 with “Buy”. Bank of America downgraded it to “Neutral” rating and $33 target price in Tuesday, December 8 report. Standpoint Research maintained Blackstone Group LP (NYSE:BX) rating on Sunday, August 9. Standpoint Research has “Hold” rating and $48 price target. Deutsche Bank maintained Blackstone Group LP (NYSE:BX) on Monday, August 17 with “Buy” rating. On Tuesday, August 2 the stock rating was maintained by Jefferies with “Buy”. The stock of Blackstone Group LP (NYSE:BX) has “Buy” rating given on Friday, January 8 by Deutsche Bank. The rating was maintained by Barclays Capital with “Overweight” on Thursday, October 13.

BX Company Profile

The Blackstone Group L.P. (Blackstone), incorporated on March 12, 2007, 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 other multi-asset class strategies. The Company’s divisions include Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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