Blackstone Group L.P. (BX) Stake Lowered by Swedbank

Blackstone Group L.P. (BX) Stake Lowered by Swedbank

Swedbank cut its position in shares of The Blackstone Group L.P. (NYSE:BX) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,465,503 shares of the company’s stock after selling 195,377 shares during the period. The Blackstone Group L.P. makes up about 1.6% of Swedbank’s investment portfolio, making the stock its 25th largest position. Swedbank’s holdings in The Blackstone Group L.P. were worth $190,594,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Evercore Wealth Management LLC increased its stake in The Blackstone Group L.P. by 0.3% in the second quarter. Evercore Wealth Management LLC now owns 1,513,562 shares of the company’s stock worth $37,143,000 after buying an additional 5,273 shares during the last quarter. Bank of Montreal Can increased its stake in The Blackstone Group L.P. by 65.5% in the third quarter. Bank of Montreal Can now owns 5,308,617 shares of the company’s stock worth $135,529,000 after buying an additional 2,101,368 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in The Blackstone Group L.P. by 49.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 825,609 shares of the company’s stock worth $20,260,000 after buying an additional 271,581 shares during the last quarter. Sadoff Investment Management LLC increased its stake in The Blackstone Group L.P. by 1.1% in the third quarter. Sadoff Investment Management LLC now owns 312,817 shares of the company’s stock worth $7,986,000 after buying an additional 3,547 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in The Blackstone Group L.P. by 15.0% in the third quarter. Bank of New York Mellon Corp now owns 2,734,780 shares of the company’s stock worth $69,819,000 after buying an additional 357,277 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Shares of The Blackstone Group L.P. (NYSE:BX) opened at 30.74 on Friday. The Blackstone Group L.P. has a 52 week low of $22.45 and a 52 week high of $31.69. The firm has a market capitalization of $19.40 billion, a P/E ratio of 19.71 and a beta of 1.42. The stock has a 50 day moving average price of $29.58 and a 200 day moving average price of $27.00.

The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The Blackstone Group L.P. had a net margin of 20.08% and a return on equity of 15.59%. The business earned $1.57 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The company’s revenue was up 74.9% on a year-over-year basis. Analysts forecast that The Blackstone Group L.P. will post $2.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Monday, February 6th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.12%. This is a positive change from The Blackstone Group L.P.’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, February 2nd. The Blackstone Group L.P.’s dividend payout ratio is presently 121.29%.

BX has been the subject of a number of recent research reports. Vetr downgraded The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $30.38 price objective for the company. in a report on Tuesday, January 3rd. Bank of America Corporation raised shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, December 16th. Credit Suisse Group reaffirmed a “buy” rating and set a $35.00 price target on shares of The Blackstone Group L.P. in a research report on Monday, November 7th. Jefferies Group LLC reaffirmed a “buy” rating on shares of The Blackstone Group L.P. in a research report on Friday, January 20th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $34.00 price target on shares of The Blackstone Group L.P. in a research report on Sunday, January 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Blackstone Group L.P. currently has an average rating of “Buy” and a consensus price target of $32.77.

In other news, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $22.66, for a total transaction of $220,443,210.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 10,000 shares of the company’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the insider now directly owns 100,745 shares of the company’s stock, valued at $2,921,605. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,466,594 shares of company stock valued at $441,273,703. Company insiders own 1.00% of the company’s stock.

The Blackstone Group L.P. Company Profile

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Blackstone Group L.P. (NYSE:BX).

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