The Blackstone Group Inc. (NYSE:BX) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 21.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,149 shares of the asset manager’s stock after selling 2,572 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in The Blackstone Group were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Inscription Capital LLC raised its holdings in The Blackstone Group by 8.7% during the 2nd quarter. Inscription Capital LLC now owns 20,075 shares of the asset manager’s stock worth $1,950,000 after buying an additional 1,606 shares during the period. WBI Investments Inc. acquired a new stake in The Blackstone Group during the 2nd quarter worth about $1,994,000. Lincoln National Corp raised its holdings in The Blackstone Group by 15.8% during the 2nd quarter. Lincoln National Corp now owns 10,088 shares of the asset manager’s stock worth $980,000 after buying an additional 1,375 shares during the period. Sigma Planning Corp increased its holdings in shares of The Blackstone Group by 3.9% in the 2nd quarter. Sigma Planning Corp now owns 63,151 shares of the asset manager’s stock valued at $6,135,000 after purchasing an additional 2,361 shares during the period. Finally, QS Investors LLC acquired a new position in shares of The Blackstone Group in the 2nd quarter valued at about $360,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Shares of The Blackstone Group stock opened at $118.69 on Thursday. The stock has a market capitalization of $81.42 billion, a P/E ratio of 18.32 and a beta of 1.35. 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 stock has a 50 day moving average price of $120.92 and a two-hundred day moving average price of $102.63. The Blackstone Group Inc. has a 12-month low of $49.40 and a 12-month high of $136.88.

The Blackstone Group (NYSE:BX) last announced its earnings results on Wednesday, July 21st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The company’s revenue was up 90.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Sell-side analysts anticipate that The Blackstone Group Inc. will post 3.7 earnings per share for the current year.

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

In other The Blackstone Group news, major shareholder Lifesciences Iii L.P. Clarus acquired 150,000 shares of The Blackstone Group stock in a transaction dated Tuesday, July 20th. The stock was bought at an average cost of $16.00 per share, with a total value of $2,400,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone III bought 35,044 shares of the business’s stock in a transaction that occurred on Thursday, September 30th. The stock was purchased at an average price of $40.93 per share, with a total value of $1,434,350.92. The disclosure for this purchase can be found here. In the last ninety 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. 1.00% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on BX. Argus upped their target price on The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft upgraded The Blackstone Group from a “hold” rating to a “buy” rating and upped their target price for the company from $103.00 to $135.00 in a report on Wednesday, August 11th. Morgan Stanley upped their target price on The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 20th. Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 target price on the stock. in a report on Tuesday, September 14th. Finally, boosted their price target on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Blackstone Group currently has an average rating of “Buy” and a consensus price target of $98.55.

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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