Moody National Bank Trust Division Grows Position in Blackstone Group LP (BX)

Moody National Bank Trust Division lifted its stake in Blackstone Group LP (NYSE:BX) by 513.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,155 shares of the asset manager’s stock after buying an additional 52,855 shares during the period. Moody National Bank Trust Division’s holdings in Blackstone Group were worth $2,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in Blackstone Group during the third quarter worth about $114,000. Harvest Fund Management Co. Ltd bought a new position in Blackstone Group during the third quarter worth about $115,000. Quad Cities Investment Group LLC acquired a new stake in shares of Blackstone Group during the second quarter worth approximately $122,000. Rehmann Capital Advisory Group increased its holdings in shares of Blackstone Group by 94.9% during the second quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock worth $156,000 after buying an additional 2,362 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Blackstone Group during the third quarter worth approximately $175,000. Institutional investors and hedge funds own 49.00% of the company’s stock.

NYSE BX opened at $33.20 on Friday. The company has a market cap of $22.15 billion, a PE ratio of 11.81, a PEG ratio of 1.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. Blackstone Group LP has a 1-year low of $29.57 and a 1-year high of $40.60.

Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.99%. Blackstone Group’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Equities analysts predict that Blackstone Group LP will post 2.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Monday, October 29th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 7.71%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.58. Blackstone Group’s dividend payout ratio (DPR) is currently 91.10%.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, October 17th. Oppenheimer set a $44.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a report on Tuesday, October 16th. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Argus raised their price objective on shares of Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Finally, Bank of America raised their price objective on shares of Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and an average target price of $43.45.

In related news, insider John G. Finley sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $35.76, for a total value of $357,600.00. Following the completion of the sale, the insider now owns 113,003 shares of the company’s stock, valued at $4,040,987.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman J Tomilson Hill sold 674,257 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $36.48, for a total transaction of $24,596,895.36. Following the completion of the sale, the insider now directly owns 928,884 shares of the company’s stock, valued at approximately $33,885,688.32. The disclosure for this sale can be found here. In the last three months, insiders sold 770,677 shares of company stock valued at $28,061,444. 1.00% of the stock is currently owned by company insiders.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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.

Featured Story: What is a bull market?

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply