Strategy Asset Managers LLC Has $863,000 Position in The Blackstone Group L.P. (BX)

Strategy Asset Managers LLC boosted its holdings in shares of The Blackstone Group L.P. (NYSE:BX) by 73.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,875 shares of the asset manager’s stock after acquiring an additional 10,920 shares during the quarter. Strategy Asset Managers LLC’s holdings in The Blackstone Group L.P. were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its stake in The Blackstone Group L.P. by 3.5% during the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after acquiring an additional 1,387,363 shares during the last quarter. Janus Henderson Group PLC increased its stake in The Blackstone Group L.P. by 1,142.0% during the second quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock worth $268,879,000 after acquiring an additional 7,413,287 shares during the last quarter. Fred Alger Management Inc. increased its stake in The Blackstone Group L.P. by 23.8% during the second quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock worth $209,763,000 after acquiring an additional 1,211,146 shares during the last quarter. Swedbank grew its stake in shares of The Blackstone Group L.P. by 14.6% in the third quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock valued at $181,303,000 after buying an additional 693,200 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of The Blackstone Group L.P. by 101.0% in the second quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock valued at $133,008,000 after buying an additional 2,004,000 shares in the last quarter. 47.69% of the stock is owned by institutional investors.

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A number of equities research analysts have recently weighed in on BX shares. Credit Suisse Group dropped their price objective on The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. BidaskClub raised The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price objective (up from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Bank of America Corporation lifted their price objective on The Blackstone Group L.P. from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research raised The Blackstone Group L.P. from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $38.42.

The Blackstone Group L.P. (BX) traded down $0.22 during trading on Tuesday, hitting $31.54. The stock had a trading volume of 952,075 shares, compared to its average volume of 4,191,070. The Blackstone Group L.P. has a fifty-two week low of $24.45 and a fifty-two week high of $35.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $38,140.00, a P/E ratio of 11.56, a P/E/G ratio of 0.58 and a beta of 1.42.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. The Blackstone Group L.P. had a return on equity of 19.71% and a net margin of 22.88%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. sell-side analysts forecast that The Blackstone Group L.P. will post 2.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 5.58%. The ex-dividend date was Friday, October 27th. The Blackstone Group L.P.’s dividend payout ratio (DPR) is presently 75.86%.

About The Blackstone Group L.P.

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 The Blackstone Group L.P. (NYSE:BX)

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