Blackstone Group LP (BX) Holdings Raised by Coronation Fund Managers Ltd.
Coronation Fund Managers Ltd. raised its position in shares of Blackstone Group LP (NYSE:BX) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 993,616 shares of the asset manager’s stock after acquiring an additional 82,446 shares during the period. Blackstone Group makes up 1.4% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 20th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.15% of Blackstone Group worth $29,620,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. American Asset Management Inc. lifted its stake in shares of Blackstone Group by 40.2% in the fourth quarter. American Asset Management Inc. now owns 10,720 shares of the asset manager’s stock valued at $320,000 after buying an additional 3,075 shares during the period. Honeywell International Inc. lifted its stake in shares of Blackstone Group by 0.4% in the fourth quarter. Honeywell International Inc. now owns 605,600 shares of the asset manager’s stock valued at $18,053,000 after buying an additional 2,300 shares during the period. Parallel Advisors LLC lifted its stake in shares of Blackstone Group by 62.1% in the fourth quarter. Parallel Advisors LLC now owns 8,968 shares of the asset manager’s stock valued at $267,000 after buying an additional 3,434 shares during the period. Meyer Handelman Co. bought a new stake in shares of Blackstone Group in the fourth quarter valued at about $238,000. Finally, Westside Investment Management Inc. lifted its stake in Blackstone Group by 11.6% during the fourth quarter. Westside Investment Management Inc. now owns 41,155 shares of the asset manager’s stock worth $1,227,000 after purchasing an additional 4,285 shares during the period. Institutional investors own 50.35% of the company’s stock.
A number of research analysts have commented on BX shares. Morgan Stanley cut their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Oppenheimer set a $44.00 price target on shares of Blackstone Group and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Deutsche Bank cut their price target on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Friday, November 16th. Finally, Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Blackstone Group has a consensus rating of “Buy” and an average price target of $42.54.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The firm had revenue of $504.98 million for the quarter, compared to analyst estimates of $381.19 million. Blackstone Group had a return on equity of 16.33% and a net margin of 22.56%. The business’s quarterly revenue was down 74.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts anticipate that Blackstone Group LP will post 2.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 19th. Stockholders of record on Monday, February 11th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 6.97%. The ex-dividend date is Friday, February 8th. Blackstone Group’s payout ratio is 113.27%.
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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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