BTR Capital Management Inc. Buys 3,080 Shares of Blackstone Group L.P. (BX)
BTR Capital Management Inc. raised its position in shares of Blackstone Group L.P. (NYSE:BX) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,840 shares of the company’s stock after buying an additional 3,080 shares during the period. BTR Capital Management Inc.’s holdings in Blackstone Group L.P. were worth $1,272,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Renaissance Investment Group LLC increased its stake in Blackstone Group L.P. by 8.9% in the second quarter. Renaissance Investment Group LLC now owns 126,936 shares of the company’s stock worth $3,115,000 after buying an additional 10,325 shares during the period. Adirondack Trust Co. increased its stake in Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock worth $128,000 after buying an additional 36 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Blackstone Group L.P. during the second quarter worth about $499,000. River & Mercantile Asset Management LLP increased its stake in Blackstone Group L.P. by 96.1% in the second quarter. River & Mercantile Asset Management LLP now owns 85,718 shares of the company’s stock worth $2,103,000 after buying an additional 42,000 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its stake in Blackstone Group L.P. by 13.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 333,223 shares of the company’s stock worth $8,177,000 after buying an additional 38,801 shares during the period. 49.06% of the stock is owned by institutional investors and hedge funds.
Blackstone Group L.P. (NYSE:BX) traded up 0.70% during trading on Tuesday, hitting $25.99. The stock had a trading volume of 2,580,088 shares. The company has a market cap of $16.40 billion, a PE ratio of 21.66 and a beta of 1.46. Blackstone Group L.P. has a 52 week low of $22.31 and a 52 week high of $31.87. The stock has a 50-day moving average price of $24.79 and a 200-day moving average price of $25.74.
Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.08. Blackstone Group L.P. had a net margin of 23.30% and a return on equity of 15.41%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company earned ($0.35) earnings per share. The firm’s revenue was down 4432.0% on a year-over-year basis. Equities analysts predict that Blackstone Group L.P. will post $1.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, November 7th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 6.31%. This is a boost from Blackstone Group L.P.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, November 3rd. Blackstone Group L.P.’s dividend payout ratio is 133.33%.
A number of equities research analysts have issued reports on BX shares. Zacks Investment Research downgraded Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.22 price target for the company. in a research report on Wednesday, September 21st. Credit Suisse Group AG reissued a “buy” rating and set a $35.00 price target on shares of Blackstone Group L.P. in a research report on Monday, September 19th. Barclays PLC reduced their price objective on Blackstone Group L.P. from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Finally, Jefferies Group restated a “buy” rating on shares of Blackstone Group L.P. in a research note on Wednesday, October 12th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $33.84.
In other Blackstone Group L.P. news, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $22.66, for a total transaction of $220,443,210.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the sale, the insider now owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Blackstone Group L.P. Company Profile
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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