Vantage Investment Partners LLC Purchases 713,274 Shares of Blackstone Group LP (BX)

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Vantage Investment Partners LLC lifted its position in shares of Blackstone Group LP (NYSE:BX) by 354.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 914,583 shares of the asset manager’s stock after purchasing an additional 713,274 shares during the quarter. Blackstone Group makes up about 2.2% of Vantage Investment Partners LLC’s investment portfolio, making the stock its 12th largest position. Vantage Investment Partners LLC owned 0.14% of Blackstone Group worth $34,827,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in shares of Blackstone Group during the 3rd quarter worth approximately $114,000. Harvest Fund Management Co. Ltd acquired a new stake in Blackstone Group in the 3rd quarter valued at $115,000. Quad Cities Investment Group LLC acquired a new stake in Blackstone Group in the 2nd quarter valued at $122,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Blackstone Group in the 3rd quarter valued at $175,000. Finally, Rehmann Capital Advisory Group boosted its stake in Blackstone Group by 94.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock valued at $156,000 after buying an additional 2,362 shares in the last quarter. 49.00% of the stock is currently owned by institutional investors.

BX has been the topic of several recent analyst reports. Zacks Investment Research raised Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, October 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Blackstone Group in a research note on Friday, July 20th. Argus boosted their price target on Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, September 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $40.00 price target on shares of Blackstone Group in a research note on Friday, July 20th. Finally, Oppenheimer set a $42.00 price target on Blackstone Group and gave the company a “buy” rating in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $43.45.

In other Blackstone Group news, Vice Chairman J Tomilson Hill sold 674,257 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $36.48, for a total value of $24,596,895.36. Following the transaction, the insider now owns 928,884 shares of the company’s stock, valued at $33,885,688.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the completion of the transaction, the insider now directly owns 113,003 shares in the company, valued at approximately $4,065,847.94. The disclosure for this sale can be found here. In the last three months, insiders sold 770,677 shares of company stock worth $28,061,444. Insiders own 1.00% of the company’s stock.

Shares of BX stock opened at $32.36 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $21.18 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.06 and a beta of 1.32. Blackstone Group LP has a one year low of $29.57 and a one year high of $40.60.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a return on equity of 22.99% and a net margin of 22.34%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Research analysts expect that Blackstone Group LP will post 2.87 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Monday, October 29th will be paid a $0.64 dividend. The ex-dividend date is Friday, October 26th. This represents a $2.56 dividend on an annualized basis and a yield of 7.91%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.58. Blackstone Group’s payout ratio is currently 91.10%.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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