Fishman Jay A Ltd. MI reduced its stake in Blackstone Group LP (NYSE:BX) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 554,409 shares of the asset manager’s stock after selling 555 shares during the period. Blackstone Group makes up approximately 5.1% of Fishman Jay A Ltd. MI’s holdings, making the stock its 5th largest holding. Fishman Jay A Ltd. MI owned approximately 0.08% of Blackstone Group worth $27,077,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY bought a new position in Blackstone Group in the 2nd quarter valued at $25,000. Burt Wealth Advisors bought a new position in Blackstone Group in the 3rd quarter valued at $26,000. Lenox Wealth Advisors LLC bought a new position in Blackstone Group in the 3rd quarter valued at $28,000. Centaurus Financial Inc. boosted its position in Blackstone Group by 194.0% in the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after buying an additional 683 shares during the last quarter. Finally, Hartford Financial Management Inc. bought a new position in Blackstone Group in the 3rd quarter valued at $30,000. Institutional investors own 47.88% of the company’s stock.

BX has been the topic of a number of recent research reports. Deutsche Bank increased their price objective on Blackstone Group from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Co initiated coverage on Blackstone Group in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $60.00 price objective on the stock. Oppenheimer lowered Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. Bank of America lowered Blackstone Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $54.00 to $52.00 in a research report on Monday, October 14th. Finally, ValuEngine downgraded Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $52.63.

In related news, Vice Chairman Hamilton E. James sold 280,046 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $32.75, for a total value of $299,006,386.50. The disclosure for this sale can be found here. In the last three months, insiders bought 629,611 shares of company stock worth $5,075,527 and sold 16,299,557 shares worth $558,804,845. Corporate insiders own 1.00% of the company’s stock.

Shares of BX stock traded up $0.13 during trading hours on Friday, reaching $51.53. The company had a trading volume of 5,109,765 shares, compared to its average volume of 4,077,599. The company has a 50 day moving average of $50.10 and a 200 day moving average of $46.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.64 and a beta of 1.47. Blackstone Group LP has a 1-year low of $26.88 and a 1-year high of $55.17.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.31 billion. Blackstone Group had a return on equity of 7.71% and a net margin of 27.05%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. As a group, sell-side analysts forecast that Blackstone Group LP will post 2.28 EPS for the current fiscal year.

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

Blackstone Group Company 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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