Private Advisor Group LLC Sells 95,348 Shares of Blackstone Group LP (BX)

Private Advisor Group LLC decreased its holdings in Blackstone Group LP (NYSE:BX) by 53.1% in the fourth quarter, Holdings Channel reports. The fund owned 84,048 shares of the asset manager’s stock after selling 95,348 shares during the period. Private Advisor Group LLC’s holdings in Blackstone Group were worth $2,767,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BX. Bank of Montreal Can raised its holdings in Blackstone Group by 77.0% in the 4th quarter. Bank of Montreal Can now owns 22,232,729 shares of the asset manager’s stock valued at $711,892,000 after acquiring an additional 9,669,716 shares during the last quarter. Atlantic Trust Group LLC increased its holdings in shares of Blackstone Group by 2,189.3% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,911,552 shares of the asset manager’s stock worth $63,787,000 after buying an additional 1,828,052 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Blackstone Group by 135.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after buying an additional 1,117,412 shares during the last quarter. Swedbank increased its holdings in shares of Blackstone Group by 14.6% during the 3rd quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock worth $181,303,000 after buying an additional 693,200 shares during the last quarter. Finally, Chilton Investment Co. LLC acquired a new stake in shares of Blackstone Group during the 4th quarter worth approximately $13,960,000. Institutional investors own 45.24% of the company’s stock.

Blackstone Group LP (NYSE BX) opened at $33.78 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. The firm has a market cap of $22,436.01, a P/E ratio of 15.50, a P/E/G ratio of 1.14 and a beta of 1.34. Blackstone Group LP has a 1 year low of $28.45 and a 1 year high of $37.52.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. analysts expect that Blackstone Group LP will post 3.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 12th will be given a dividend of $0.85 per share. The ex-dividend date is Friday, February 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 10.07%. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio (DPR) is presently 155.96%.

In other Blackstone Group news, major shareholder Group L.P. Blackstone purchased 25,466 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was bought at an average price of $28.61 per share, with a total value of $728,582.26. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the completion of the transaction, the insider now directly owns 87,852 shares of the company’s stock, valued at approximately $2,779,637.28. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price target on shares of Blackstone Group in a report on Thursday, February 1st. JPMorgan Chase & Co. downgraded shares of Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Zacks Investment Research downgraded shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday. Vetr downgraded shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price target for the company. in a report on Wednesday, January 10th. Finally, Oppenheimer restated a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $39.90.

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Blackstone Group Profile

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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