Blackstone Group LP (NYSE:BX) Stake Decreased by Augustine Asset Management Inc.

Augustine Asset Management Inc. lowered its stake in shares of Blackstone Group LP (NYSE:BX) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,424 shares of the asset manager’s stock after selling 1,091 shares during the quarter. Augustine Asset Management Inc.’s holdings in Blackstone Group were worth $504,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BX. Alliancebernstein L.P. bought a new stake in shares of Blackstone Group during the third quarter worth $6,585,000. Bank of New York Mellon Corp raised its holdings in shares of Blackstone Group by 17.2% during the third quarter. Bank of New York Mellon Corp now owns 121,771 shares of the asset manager’s stock valued at $4,638,000 after purchasing an additional 17,875 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Blackstone Group by 5.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,303 shares of the asset manager’s stock valued at $2,372,000 after purchasing an additional 3,205 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Blackstone Group by 32.3% during the third quarter. Allianz Asset Management GmbH now owns 172,000 shares of the asset manager’s stock valued at $6,550,000 after purchasing an additional 42,000 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Blackstone Group by 8.2% during the third quarter. LPL Financial LLC now owns 350,280 shares of the asset manager’s stock valued at $13,339,000 after purchasing an additional 26,435 shares during the period. 50.27% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 25th. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, Morgan Stanley upped their price objective on shares of Blackstone Group from $40.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Blackstone Group has a consensus rating of “Buy” and an average target price of $43.29.

In other Blackstone Group news, Director Bennett J. Goodman sold 115,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at $9,895,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone III purchased 109,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $23.95 per share, with a total value of $2,622,525.00. The disclosure for this purchase can be found here. Insiders have purchased 982,788 shares of company stock valued at $23,655,050 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Shares of NYSE BX opened at $40.06 on Friday. 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 company has a market cap of $26.06 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 4.21 and a beta of 1.47. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $40.75.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.48 billion. Blackstone Group had a net margin of 23.35% and a return on equity of 12.74%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that Blackstone Group LP will post 2.35 EPS for the current year.

The firm also recently announced 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. The ex-dividend date is Friday, April 26th. This represents a $1.48 annualized dividend and a yield of 3.69%. Blackstone Group’s dividend payout ratio (DPR) is 65.49%.

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Blackstone Group 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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