Blackstone Group LP (BX) Holdings Trimmed by HM Payson & Co.

HM Payson & Co. cut its holdings in shares of Blackstone Group LP (NYSE:BX) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,384 shares of the asset manager’s stock after selling 700 shares during the period. HM Payson & Co.’s holdings in Blackstone Group were worth $662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BX. Canton Hathaway LLC acquired a new position in shares of Blackstone Group during the third quarter worth $114,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Blackstone Group during the third quarter worth $115,000. Quad Cities Investment Group LLC acquired a new position in shares of Blackstone Group during the second quarter worth $122,000. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Blackstone Group during the third quarter worth $159,000. Finally, QCI Asset Management Inc. NY increased its holdings in shares of Blackstone Group by 800.0% during the third quarter. QCI Asset Management Inc. NY now owns 4,500 shares of the asset manager’s stock worth $171,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 49.39% of the company’s stock.

Several research analysts have recently issued reports on BX shares. Morgan Stanley upped their price target on shares of Blackstone Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 14th. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, August 16th. JPMorgan Chase & Co. set a $45.00 price target on shares of Blackstone Group and gave the stock a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Finally, JMP Securities upped their price target on shares of Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.27.

In related news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

NYSE BX opened at $33.73 on Friday. The firm has a market capitalization of $22.34 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.10 and a beta of 1.39. Blackstone Group LP has a twelve month low of $30.08 and a twelve month high of $40.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.79 billion. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. Blackstone Group’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, sell-side analysts anticipate that Blackstone Group LP will post 2.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Monday, October 29th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 7.59%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 26th. Blackstone Group’s dividend payout ratio is presently 91.10%.

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About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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

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