Blackstone Group LP (BX) Position Raised by Private Trust Co. NA

Private Trust Co. NA increased its holdings in shares of Blackstone Group LP (NYSE:BX) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,410 shares of the asset manager’s stock after buying an additional 1,385 shares during the period. Private Trust Co. NA’s holdings in Blackstone Group were worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Morgan Stanley lifted its holdings in Blackstone Group by 0.9% in the 3rd quarter. Morgan Stanley now owns 31,144,347 shares of the asset manager’s stock valued at $1,185,976,000 after purchasing an additional 273,178 shares in the last quarter. Capital World Investors increased its stake in shares of Blackstone Group by 4.2% in the 3rd quarter. Capital World Investors now owns 18,545,079 shares of the asset manager’s stock worth $706,197,000 after acquiring an additional 749,015 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Blackstone Group by 58.3% in the 4th quarter. Bank of Montreal Can now owns 14,094,176 shares of the asset manager’s stock worth $420,147,000 after acquiring an additional 5,189,588 shares during the last quarter. Swedbank increased its stake in shares of Blackstone Group by 3.6% in the 4th quarter. Swedbank now owns 5,701,485 shares of the asset manager’s stock worth $171,558,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Fairview Capital Investment Management LLC increased its stake in shares of Blackstone Group by 29.1% in the 4th quarter. Fairview Capital Investment Management LLC now owns 3,751,400 shares of the asset manager’s stock worth $111,829,000 after acquiring an additional 844,750 shares during the last quarter. Institutional investors own 50.27% of the company’s stock.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III acquired 2,720 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $24.49 per share, with a total value of $66,612.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 601,330 shares of company stock valued at $14,416,940 over the last three months. Corporate insiders own 1.00% of the company’s stock.

A number of analysts have issued reports on BX shares. Zacks Investment Research raised Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Morgan Stanley cut their target price on Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Finally, ValuEngine raised Blackstone Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.29.

Shares of NYSE:BX opened at $39.93 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $26.19 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 3.89 and a beta of 1.43. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $40.60.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.48 billion. Blackstone Group had a return on equity of 12.74% and a net margin of 23.35%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. On average, sell-side analysts forecast that Blackstone Group LP will post 2.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, April 26th. Blackstone Group’s payout ratio is 102.65%.

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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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