Massey Quick Simon & CO. LLC raised its stake in The Blackstone Group L.P. (NYSE:BX) by 6,029.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,299 shares of the asset manager’s stock after acquiring an additional 60,299 shares during the period. The Blackstone Group L.P. accounts for approximately 0.7% of Massey Quick Simon & CO. LLC’s portfolio, making the stock its 24th largest position. Massey Quick Simon & CO. LLC’s holdings in The Blackstone Group L.P. were worth $2,046,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Jacobi Capital Management LLC acquired a new position in The Blackstone Group L.P. in the second quarter valued at $116,000. Winslow Evans & Crocker Inc. boosted its stake in The Blackstone Group L.P. by 1.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock valued at $117,000 after acquiring an additional 50 shares in the last quarter. Omnia Family Wealth LLC boosted its stake in The Blackstone Group L.P. by 0.5% in the second quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares in the last quarter. Pathstone Family Office LLC acquired a new position in The Blackstone Group L.P. in the second quarter valued at $167,000. Finally, Peddock Capital Advisors LLC acquired a new position in The Blackstone Group L.P. in the second quarter valued at $187,000. Institutional investors own 47.69% of the company’s stock.
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Several equities analysts have issued reports on BX shares. BidaskClub upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG upped their target price on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a report on Friday, July 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 target price (up from $37.00) on shares of The Blackstone Group L.P. in a report on Tuesday, July 25th. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 target price for the company in a report on Thursday, August 10th. Finally, Credit Suisse Group reduced their target price on shares of The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The Blackstone Group L.P. has an average rating of “Buy” and an average price target of $38.42.
The Blackstone Group L.P. (NYSE:BX) traded down $0.21 during midday trading on Tuesday, reaching $31.55. 1,084,008 shares of the company traded hands, compared to its average volume of 4,191,070. The stock has a market capitalization of $38,140.00, a PE ratio of 11.56, a P/E/G ratio of 0.58 and a beta of 1.42. The Blackstone Group L.P. has a 52-week low of $24.45 and a 52-week high of $35.09. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95.
The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.14. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.39 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.71%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. equities research analysts predict that The Blackstone Group L.P. will post 2.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.76 annualized dividend and a yield of 5.58%. The Blackstone Group L.P.’s dividend payout ratio is currently 75.86%.
About The Blackstone Group L.P.
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.
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