Blackstone Group LP (NYSE:BX) Shares Sold by Texas Yale Capital Corp.

Texas Yale Capital Corp. lessened its holdings in shares of Blackstone Group LP (NYSE:BX) by 48.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,335 shares of the asset manager’s stock after selling 133,665 shares during the period. Texas Yale Capital Corp.’s holdings in Blackstone Group were worth $6,234,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BX. Northern Trust Corp grew its stake in shares of Blackstone Group by 3.1% in the fourth quarter. Northern Trust Corp now owns 353,285 shares of the asset manager’s stock worth $10,532,000 after acquiring an additional 10,592 shares during the period. Chesley Taft & Associates LLC grew its stake in shares of Blackstone Group by 2.5% in the first quarter. Chesley Taft & Associates LLC now owns 36,575 shares of the asset manager’s stock worth $1,279,000 after acquiring an additional 900 shares during the period. Neville Rodie & Shaw Inc. grew its stake in shares of Blackstone Group by 30.3% in the first quarter. Neville Rodie & Shaw Inc. now owns 58,485 shares of the asset manager’s stock worth $2,045,000 after acquiring an additional 13,615 shares during the period. Surevest Inc. grew its stake in shares of Blackstone Group by 125.2% in the first quarter. Surevest Inc. now owns 22,176 shares of the asset manager’s stock worth $775,000 after acquiring an additional 12,329 shares during the period. Finally, Beech Hill Advisors Inc. grew its stake in shares of Blackstone Group by 23.4% in the first quarter. Beech Hill Advisors Inc. now owns 26,400 shares of the asset manager’s stock worth $923,000 after acquiring an additional 5,000 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on BX shares. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Morgan Stanley lifted their price target on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Oppenheimer set a $52.00 price target on shares of Blackstone Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup set a $52.00 price target on shares of Blackstone Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, JMP Securities lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $47.22.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III bought 66,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $24.15 per share, for a total transaction of $1,593,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

NYSE BX traded down $0.20 during trading hours on Friday, hitting $46.62. 8,955,516 shares of the company’s stock traded hands, compared to its average volume of 6,399,636. The stock has a fifty day simple moving average of $46.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $30.85 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.03 and a beta of 1.47. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $49.81.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. The firm’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, equities analysts predict that Blackstone Group LP will post 2.32 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.92 annualized dividend and a yield of 4.12%. Blackstone Group’s dividend payout ratio (DPR) is 84.96%.

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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