First United Bank & Trust Sells 1,000 Shares of The Blackstone Group Inc. (NYSE:BX)

First United Bank & Trust reduced its position in shares of The Blackstone Group Inc. (NYSE:BX) by 5.7% in the third quarter, Holdings Channel reports. The fund owned 16,545 shares of the asset manager’s stock after selling 1,000 shares during the quarter. First United Bank & Trust’s holdings in The Blackstone Group were worth $1,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of The Blackstone Group by 31.6% during the 2nd quarter. BlackRock Inc. now owns 30,579,280 shares of the asset manager’s stock valued at $2,970,472,000 after acquiring an additional 7,339,615 shares during the last quarter. Ashfield Capital Partners LLC boosted its position in shares of 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 valued at $4,783,000 after acquiring an additional 2,033 shares during the last quarter. Seeyond boosted its position in shares of The Blackstone Group by 45.2% during the 2nd quarter. Seeyond now owns 10,431 shares of the asset manager’s stock valued at $1,013,000 after acquiring an additional 3,249 shares during the last quarter. M Holdings Securities Inc. boosted its position in shares of The Blackstone Group by 21.1% during the 2nd quarter. M Holdings Securities Inc. now owns 15,531 shares of the asset manager’s stock valued at $1,509,000 after acquiring an additional 2,704 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in The Blackstone Group by 13.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 400,799 shares of the asset manager’s stock valued at $38,934,000 after buying an additional 47,838 shares during the period. Hedge funds and other institutional investors own 63.14% of the company’s stock.

Shares of The Blackstone Group stock opened at $148.23 on Thursday. The firm has a market cap of $101.82 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.34 and a beta of 1.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The Blackstone Group Inc. has a 12 month low of $59.11 and a 12 month high of $149.78. The stock’s fifty day moving average price is $131.81 and its 200-day moving average price is $114.79.

The Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Wednesday, October 20th. The asset manager reported $1.28 EPS for the quarter, beating the consensus estimate of $0.91 by $0.37. The firm had revenue of $6.22 billion for the quarter, compared to analyst estimates of $2.17 billion. The Blackstone Group had a return on equity of 16.95% and a net margin of 25.47%. The business’s revenue for the quarter was up 105.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Analysts forecast that The Blackstone Group Inc. will post 4.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 8th. Stockholders of record on Monday, November 1st were paid a dividend of $1.0275 per share. The ex-dividend date of this dividend was Friday, October 29th. This represents a $4.11 annualized dividend and a dividend yield of 2.77%. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.70. The Blackstone Group’s dividend payout ratio (DPR) is currently 59.81%.

Several analysts recently weighed in on BX shares. Bank of America started coverage on The Blackstone Group in a report on Thursday, November 4th. They set a “buy” rating and a $182.00 price target on the stock. Citigroup increased their price target on The Blackstone Group from $114.50 to $141.00 and gave the company a “neutral” rating in a report on Tuesday, October 26th. BMO Capital Markets increased their price target on The Blackstone Group from $96.00 to $114.00 and gave the company a “market perform” rating in a report on Friday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a report on Tuesday, September 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on The Blackstone Group from $135.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, October 22nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $124.18.

In related news, major shareholder Holdings L.P. Blackstone III acquired 30,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The shares were bought at an average price of $39.60 per share, with a total value of $1,203,840.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $129.00, for a total value of $476,397.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 65,657 shares of company stock worth $2,646,801. Insiders own 1.00% of the company’s stock.

About The Blackstone Group

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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