Brown Brothers Harriman & Co. Reduces Position in The Blackstone Group Inc. (NYSE:BX)

Brown Brothers Harriman & Co. cut its position in The Blackstone Group Inc. (NYSE:BX) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,149 shares of the asset manager’s stock after selling 2,572 shares during the period. Brown Brothers Harriman & Co.’s holdings in The Blackstone Group were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of The Blackstone Group by 31.6% in the 2nd quarter. BlackRock Inc. now owns 30,579,280 shares of the asset manager’s stock valued at $2,970,472,000 after buying an additional 7,339,615 shares in the last quarter. Ashfield Capital Partners LLC boosted its stake in The Blackstone Group by 4.3% during the 2nd quarter. Ashfield Capital Partners LLC now owns 49,234 shares of the asset manager’s stock worth $4,783,000 after purchasing an additional 2,033 shares during the period. Veracity Capital LLC acquired a new stake in The Blackstone Group during the 2nd quarter worth $330,000. Fisher Asset Management LLC boosted its stake in The Blackstone Group by 92.9% during the 2nd quarter. Fisher Asset Management LLC now owns 5,408 shares of the asset manager’s stock worth $525,000 after purchasing an additional 2,605 shares during the period. Finally, Brandywine Oak Private Wealth LLC boosted its stake in The Blackstone Group by 11.6% during the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 17,600 shares of the asset manager’s stock worth $1,709,000 after purchasing an additional 1,828 shares during the period. 63.16% of the stock is currently owned by institutional investors.

BX has been the subject of several recent analyst reports. Argus raised their target price on shares of The Blackstone Group from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. Citigroup raised their target price on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, July 12th. Zacks Investment Research cut shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Tuesday, September 14th. raised their target price on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, July 12th. Finally, Morgan Stanley raised their target price on shares of The Blackstone Group from $98.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 20th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $98.55.

In other news, Director Joseph Baratta sold 64,904 shares of The Blackstone Group stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $115.87, for a total transaction of $7,520,426.48. Following the completion of the sale, the director now directly owns 1,233,634 shares in the company, valued at $142,941,171.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David Payne sold 3,693 shares of The Blackstone Group stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $129.00, for a total transaction of $476,397.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 215,657 shares of company stock valued at $5,046,801 and have sold 507,808 shares valued at $40,144,228. Company insiders own 1.00% of the company’s stock.

Shares of BX opened at $118.69 on Thursday. The company has a 50-day simple moving average of $120.92 and a 200-day simple moving average of $102.63. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $81.42 billion, a PE ratio of 18.32 and a beta of 1.35. The Blackstone Group Inc. has a 52-week low of $49.40 and a 52-week high of $136.88.

The Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Wednesday, July 21st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue was up 90.3% compared to the same quarter last year. On average, research analysts anticipate that The Blackstone Group Inc. will post 3.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were issued a dividend of $0.8475 per share. The ex-dividend date was Friday, July 30th. This represents a $3.39 annualized dividend and a yield of 2.86%. The Blackstone Group’s dividend payout ratio (DPR) is currently 105.66%.

The Blackstone Group Profile

Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.

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

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