Brown Advisory Inc. Grows Holdings in Blackstone Group LP (BX)

Brown Advisory Inc. grew its position in shares of Blackstone Group LP (NYSE:BX) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 834,965 shares of the asset manager’s stock after purchasing an additional 21,410 shares during the period. Brown Advisory Inc. owned approximately 0.13% of Blackstone Group worth $27,863,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BX. Janus Henderson Group PLC lifted its stake in Blackstone Group by 1,142.0% during the second quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock worth $268,879,000 after purchasing an additional 7,413,287 shares in the last quarter. Capital World Investors lifted its stake in Blackstone Group by 101.0% during the second quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock worth $133,008,000 after purchasing an additional 2,004,000 shares in the last quarter. Global Thematic Partners LLC acquired a new position in Blackstone Group during the second quarter worth $57,533,000. FMR LLC lifted its stake in Blackstone Group by 3.5% during the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after purchasing an additional 1,387,363 shares in the last quarter. Finally, Fred Alger Management Inc. lifted its stake in Blackstone Group by 23.8% during the second quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock worth $209,763,000 after purchasing an additional 1,211,146 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Shares of Blackstone Group LP (BX) opened at $31.58 on Friday. The stock has a market capitalization of $19,918.01, a price-to-earnings ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a 52 week low of $25.57 and a 52 week high of $35.09.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.14. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm earned $0.57 earnings per share. Blackstone Group’s quarterly revenue was up 21.4% on a year-over-year basis. analysts anticipate that Blackstone Group LP will post 2.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date was Friday, October 27th. Blackstone Group’s dividend payout ratio is presently 76.19%.

Several analysts have recently issued reports on BX shares. Vetr cut Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price objective on the stock. in a research note on Monday. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub cut Blackstone Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Oppenheimer reiterated a “buy” rating on shares of Blackstone Group in a research note on Thursday, October 19th. Finally, Bank of America increased their price objective on Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.25.

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Blackstone Group Profile

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, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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