Alps Advisors Inc. raised its stake in shares of Blackstone Group LP (NYSE:BX) by 610.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,050 shares of the asset manager’s stock after purchasing an additional 181,350 shares during the quarter. Alps Advisors Inc.’s holdings in Blackstone Group were worth $10,308,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BX. Arrow Financial Corp increased its stake in shares of Blackstone Group by 26.0% in the third quarter. Arrow Financial Corp now owns 1,008 shares of the asset manager’s stock worth $49,000 after acquiring an additional 208 shares during the period. Strategic Wealth Management Group LLC increased its stake in shares of Blackstone Group by 2.4% in the third quarter. Strategic Wealth Management Group LLC now owns 9,241 shares of the asset manager’s stock worth $451,000 after acquiring an additional 213 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Blackstone Group by 0.4% in the third quarter. Cornerstone Wealth Management LLC now owns 58,076 shares of the asset manager’s stock worth $2,836,000 after acquiring an additional 222 shares during the period. Traverso Chambers Private Wealth Management LLC increased its stake in shares of Blackstone Group by 2.2% in the third quarter. Traverso Chambers Private Wealth Management LLC now owns 10,323 shares of the asset manager’s stock worth $504,000 after acquiring an additional 226 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of Blackstone Group by 1.0% in the second quarter. Valley National Advisers Inc. now owns 23,348 shares of the asset manager’s stock worth $1,037,000 after acquiring an additional 233 shares during the period. Institutional investors and hedge funds own 47.88% of the company’s stock.

In other news, major shareholder Blackstone Group Inc purchased 79,368 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $7.07 per share, with a total value of $561,131.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Hamilton E. James sold 280,046 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $51.73, for a total transaction of $14,486,779.58. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 629,611 shares of company stock worth $5,075,527 and have sold 16,299,557 shares worth $558,804,845. Corporate insiders own 1.00% of the company’s stock.

A number of analysts have recently weighed in on BX shares. Oppenheimer lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. They noted that the move was a valuation call. Deutsche Bank increased their price objective on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 price objective (up previously from $57.00) on shares of Blackstone Group in a research note on Friday, October 25th. Bank of America lowered shares of Blackstone Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $54.00 to $52.00 in a research note on Monday, October 14th. Finally, BMO Capital Markets increased their price objective on shares of Blackstone Group from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.63.

Shares of NYSE BX opened at $51.53 on Friday. The company’s fifty day moving average price is $50.10 and its 200 day moving average price is $46.28. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $55.17. The company has a market capitalization of $34.92 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.71%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities analysts expect that Blackstone Group LP will post 2.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, November 1st. This is an increase from Blackstone Group’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.80%. Blackstone Group’s dividend payout ratio is 86.73%.

Blackstone Group Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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

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