Blackstone Group LP (NYSE:BX) Position Trimmed by Rossmore Private Capital

Rossmore Private Capital lessened its stake in Blackstone Group LP (NYSE:BX) by 42.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,266 shares of the asset manager’s stock after selling 5,364 shares during the quarter. Rossmore Private Capital’s holdings in Blackstone Group were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BX. Bank of Montreal Can increased its position in Blackstone Group by 60.7% in the 3rd quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock valued at $339,088,000 after acquiring an additional 3,362,373 shares in the last quarter. Capital International Investors acquired a new stake in Blackstone Group in the 3rd quarter valued at about $82,710,000. ING Groep NV grew its position in shares of Blackstone Group by 234.9% during the 3rd quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock worth $77,695,000 after buying an additional 1,431,100 shares during the period. Russell Investments Group Ltd. grew its position in shares of Blackstone Group by 94.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,545,117 shares of the asset manager’s stock worth $96,924,000 after buying an additional 1,236,519 shares during the period. Finally, Credit Suisse AG grew its position in shares of Blackstone Group by 28.4% during the 3rd quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock worth $153,685,000 after buying an additional 892,933 shares during the period. Hedge funds and other institutional investors own 50.35% of the company’s stock.

BX has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Blackstone Group from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, November 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 research report on Wednesday, October 17th. Finally, Deutsche Bank lowered their price target on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.54.

Blackstone Group stock opened at $33.77 on Thursday. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $40.60. The company has a market cap of $22.39 billion, a P/E ratio of 14.94, a PEG ratio of 3.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 0.97.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Blackstone Group had a return on equity of 16.33% and a net margin of 22.56%. The firm had revenue of $504.98 million for the quarter, compared to the consensus estimate of $381.19 million. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue was down 74.2% compared to the same quarter last year. Analysts expect that Blackstone Group LP will post 2.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 19th. Investors of record on Monday, February 11th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 6.87%. The ex-dividend date is Friday, February 8th. Blackstone Group’s payout ratio is 102.65%.

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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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