State of Wisconsin Investment Board Trims Stock Holdings in The Blackstone Group Inc. (NYSE:BX)

State of Wisconsin Investment Board decreased its position in The Blackstone Group Inc. (NYSE:BX) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,103 shares of the asset manager’s stock after selling 97,974 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of The Blackstone Group worth $47,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of The Blackstone Group by 15.6% during the 1st quarter. BlackRock Inc. now owns 23,239,665 shares of the asset manager’s stock valued at $1,732,052,000 after buying an additional 3,142,840 shares during the last quarter. Morgan Stanley raised its stake in shares of The Blackstone Group by 5.9% during the 4th quarter. Morgan Stanley now owns 20,017,438 shares of the asset manager’s stock valued at $1,297,331,000 after buying an additional 1,121,123 shares during the last quarter. Capital International Investors raised its stake in shares of The Blackstone Group by 1.9% during the 1st quarter. Capital International Investors now owns 16,319,894 shares of the asset manager’s stock valued at $1,216,322,000 after buying an additional 307,477 shares during the last quarter. Royal Bank of Canada raised its stake in shares of The Blackstone Group by 10.5% during the 1st quarter. Royal Bank of Canada now owns 16,084,321 shares of the asset manager’s stock valued at $1,198,766,000 after buying an additional 1,530,100 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of The Blackstone Group by 5.9% during the 1st quarter. CIBC Private Wealth Group LLC now owns 9,929,224 shares of the asset manager’s stock valued at $740,026,000 after buying an additional 552,507 shares during the last quarter. Institutional investors own 60.65% of the company’s stock.

Shares of The Blackstone Group stock opened at $105.79 on Thursday. The firm has a market cap of $72.38 billion, a PE ratio of 32.97 and a beta of 1.34. The business’s 50 day moving average is $95.74. The Blackstone Group Inc. has a 1-year low of $49.26 and a 1-year high of $106.14. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34.

The Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.24. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.65 billion. The Blackstone Group had a return on equity of 15.52% and a net margin of 26.66%. During the same period in the previous year, the firm posted $0.46 EPS. As a group, research analysts forecast that The Blackstone Group Inc. will post 3.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, April 30th. The Blackstone Group’s dividend payout ratio is currently 123.77%.

BX has been the subject of several recent analyst reports. Barclays lifted their price target on The Blackstone Group from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Argus lifted their price target on The Blackstone Group from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 27th. Oppenheimer restated a “market perform” rating on shares of The Blackstone Group in a research note on Wednesday, March 24th. lifted their price objective on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. Finally, Citigroup lifted their price objective on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The Blackstone Group has an average rating of “Buy” and a consensus target price of $86.42.

In other The Blackstone Group news, major shareholder Lifesciences Iii L.P. Clarus acquired 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 20th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $2,400,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 669 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $98.93, for a total value of $66,184.17. Following the completion of the sale, the director now directly owns 1,283,592 shares in the company, valued at approximately $126,985,756.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,656,272 shares of company stock worth $230,663,723. Insiders own 1.00% of the company’s stock.

The Blackstone Group Company Profile

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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

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