Thomas Story & Son LLC Cuts Stock Holdings in Blackstone Group LP (NYSE:BX)

Thomas Story & Son LLC trimmed its stake in shares of Blackstone Group LP (NYSE:BX) by 50.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,290 shares of the asset manager’s stock after selling 35,725 shares during the period. Thomas Story & Son LLC’s holdings in Blackstone Group were worth $1,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Blackstone Group by 127.5% in the 2nd quarter. Janus Henderson Group PLC now owns 16,212,003 shares of the asset manager’s stock worth $720,137,000 after buying an additional 9,085,152 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Blackstone Group in the 2nd quarter worth $234,576,000. CIBC Private Wealth Group LLC grew its stake in shares of Blackstone Group by 2,994.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,099,714 shares of the asset manager’s stock worth $200,230,000 after buying an additional 3,967,214 shares in the last quarter. GVO Asset Management Ltd purchased a new position in shares of Blackstone Group in the 3rd quarter worth $90,783,000. Finally, USS Investment Management Ltd bought a new stake in shares of Blackstone Group in the 3rd quarter worth about $74,284,000. 47.88% of the stock is owned by institutional investors.

In related news, Vice Chairman Hamilton E. James sold 280,046 shares of Blackstone Group stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $51.73, for a total transaction of $14,486,779.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joan Solotar sold 25,000 shares of Blackstone Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the sale, the insider now owns 235,803 shares of the company’s stock, valued at approximately $12,693,275.49. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 629,611 shares of company stock valued at $5,075,527 and have sold 16,299,557 shares valued at $558,804,845. Company insiders own 1.00% of the company’s stock.

Several equities research analysts have recently issued reports on BX shares. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. S&P Equity Research lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. Oppenheimer lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. They noted that the move was a valuation call. BMO Capital Markets raised their target price on shares of Blackstone Group from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, Bank of America lowered shares of Blackstone Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $54.00 to $52.00 in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.63.

Shares of Blackstone Group stock traded up $0.13 during trading on Friday, hitting $51.53. The stock had a trading volume of 5,109,765 shares, compared to its average volume of 4,077,599. The firm’s fifty day simple moving average is $50.10 and its 200-day simple moving average is $46.28. The stock has a market cap of $34.92 billion, a PE ratio of 22.80, a PEG ratio of 1.64 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. Blackstone Group LP has a 12 month low of $26.88 and a 12 month high of $55.17.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.71%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts expect that Blackstone Group LP will post 2.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.49 per share. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.96 dividend on an annualized basis and a yield of 3.80%. Blackstone Group’s dividend payout ratio (DPR) is presently 86.73%.

Blackstone Group Company Profile

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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