Blackstone Group LP (BX) Stake Increased by Bank of Hawaii

Bank of Hawaii grew its holdings in Blackstone Group LP (NYSE:BX) by 36.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,250 shares of the asset manager’s stock after buying an additional 3,250 shares during the quarter. Bank of Hawaii’s holdings in Blackstone Group were worth $466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can raised its holdings in Blackstone Group by 60.7% during the third quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock worth $339,088,000 after purchasing an additional 3,362,373 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Blackstone Group by 2.9% during the second quarter. Janus Henderson Group PLC now owns 8,293,368 shares of the asset manager’s stock worth $266,801,000 after purchasing an additional 232,747 shares during the last quarter. Swedbank raised its holdings in Blackstone Group by 12.2% during the third quarter. Swedbank now owns 5,501,485 shares of the asset manager’s stock worth $209,497,000 after purchasing an additional 600,000 shares during the last quarter. Artemis Investment Management LLP raised its holdings in Blackstone Group by 24.4% during the third quarter. Artemis Investment Management LLP now owns 3,726,117 shares of the asset manager’s stock worth $141,945,000 after purchasing an additional 731,785 shares during the last quarter. Finally, Fairview Capital Investment Management LLC raised its holdings in Blackstone Group by 0.6% during the third quarter. Fairview Capital Investment Management LLC now owns 2,906,650 shares of the asset manager’s stock worth $110,685,000 after purchasing an additional 17,950 shares during the last quarter. 49.39% of the stock is owned by institutional investors and hedge funds.

BX has been the subject of several research reports. Zacks Investment Research raised Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, August 16th. Argus lifted their price objective on Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Bank of America lifted their price objective on Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Citigroup lifted their price objective on Blackstone Group from $43.00 to $47.50 and gave the stock a “buy” rating in a report on Monday, September 24th. Finally, ValuEngine raised Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Blackstone Group presently has an average rating of “Buy” and an average price target of $42.27.

NYSE BX opened at $33.18 on Friday. Blackstone Group LP has a fifty-two week low of $30.08 and a fifty-two week high of $40.60. The firm has a market capitalization of $21.48 billion, a PE ratio of 11.81, a P/E/G ratio of 1.05 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71.

Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts predict that Blackstone Group LP will post 2.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Monday, October 29th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 7.72%. This is a boost from Blackstone Group’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 26th. Blackstone Group’s payout ratio is 91.10%.

In related news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $25.00 per share, with a total value of $4,800,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

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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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