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

Brown Brothers Harriman & Co. decreased its stake in The Blackstone Group Inc. (NYSE:BX) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of 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 holdings in shares of The Blackstone Group by 4.3% in the 2nd quarter. Ashfield Capital Partners LLC now owns 49,234 shares of the asset manager’s stock valued at $4,783,000 after buying an additional 2,033 shares in the last quarter. Veracity Capital LLC acquired a new position in shares of The Blackstone Group in the 2nd quarter valued at $330,000. Fisher Asset Management LLC boosted its holdings in shares of The Blackstone Group by 92.9% in the 2nd quarter. Fisher Asset Management LLC now owns 5,408 shares of the asset manager’s stock valued at $525,000 after buying an additional 2,605 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC boosted its holdings in shares of The Blackstone Group by 11.6% in the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 17,600 shares of the asset manager’s stock valued at $1,709,000 after buying an additional 1,828 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

BX has been the subject of a number of recent research reports. increased their price target 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. Morgan Stanley increased their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of The Blackstone Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $103.00 to $135.00 in a research note on Wednesday, August 11th. 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. Finally, 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. 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 The Blackstone Group news, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the company’s stock in a transaction on Tuesday, July 20th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $2,400,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Baratta sold 64,904 shares of the firm’s 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 transaction, the director now owns 1,233,634 shares of the company’s stock, valued at $142,941,171.58. The disclosure for this sale can be found here. In the last quarter, insiders bought 215,657 shares of company stock valued at $5,046,801 and 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.92 billion. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The business’s revenue was up 90.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. On average, research analysts anticipate that The Blackstone Group Inc. will post 3.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Monday, August 2nd were issued a $0.8475 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 dividend on an annualized basis and a dividend yield of 2.86%. The Blackstone Group’s dividend payout ratio is presently 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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