Fishman Jay A Ltd. MI Has $27.08 Million Stake in Blackstone Group LP (NYSE:BX)

Fishman Jay A Ltd. MI lowered its holdings in shares of Blackstone Group LP (NYSE:BX) by 0.1% in the third quarter, HoldingsChannel reports. The firm owned 554,409 shares of the asset manager’s stock after selling 555 shares during the period. Blackstone Group makes up 5.1% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 5th largest position. Fishman Jay A Ltd. MI’s holdings in Blackstone Group were worth $27,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the stock. Burt Wealth Advisors acquired a new stake in Blackstone Group during the third quarter worth approximately $26,000. Cypress Capital Management LLC WY acquired a new stake in Blackstone Group during the second quarter worth approximately $25,000. Lenox Wealth Advisors LLC acquired a new stake in Blackstone Group during the third quarter worth approximately $28,000. Hartford Financial Management Inc. acquired a new stake in Blackstone Group during the third quarter worth approximately $30,000. Finally, TCI Wealth Advisors Inc. acquired a new stake in Blackstone Group during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 47.88% of the company’s stock.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $32.75, for a total transaction of $299,006,386.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joan Solotar sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the transaction, the insider now owns 235,803 shares of the company’s stock, valued at $12,693,275.49. The disclosure for this sale can be found here. Over the last quarter, insiders bought 629,611 shares of company stock valued at $5,075,527 and sold 16,299,557 shares valued at $558,804,845. 1.00% of the stock is currently owned by insiders.

Several equities research analysts have issued reports on the stock. Oppenheimer downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on shares of Blackstone Group from $44.00 to $47.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Citigroup downgraded shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research report on Wednesday, September 18th. They noted that the move was a valuation call. Morgan Stanley restated an “overweight” rating and set a $60.00 price objective (up from $57.00) on shares of Blackstone Group in a research report on Friday, October 25th. Finally, Wells Fargo & Co began coverage on shares of Blackstone Group in a research report on Tuesday, October 1st. They set an “outperform” rating and a $60.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.63.

Shares of NYSE BX traded up $0.13 during midday trading on Friday, reaching $51.53. The company’s stock had a trading volume of 5,109,765 shares, compared to its average volume of 4,077,599. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $55.17. The business’s 50 day moving average price is $50.10 and its two-hundred day moving average price is $46.28. The company has a market cap of $34.92 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.64 and a beta of 1.47.

Blackstone Group (NYSE:BX) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.71%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. Sell-side analysts forecast that Blackstone Group LP will post 2.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, November 1st. Blackstone Group’s payout ratio is presently 86.73%.

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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