The Blackstone Group Inc. (NYSE:BX) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,163 shares of the asset manager’s stock after selling 1,836 shares during the period. Johnson Investment Counsel Inc.’s holdings in The Blackstone Group were worth $2,833,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. KC Investment Advisors LLC raised its holdings in shares of The Blackstone Group by 1.4% during the second quarter. KC Investment Advisors LLC now owns 6,890 shares of the asset manager’s stock worth $669,000 after purchasing an additional 94 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of The Blackstone Group by 0.9% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,022 shares of the asset manager’s stock worth $1,071,000 after purchasing an additional 99 shares during the last quarter. Summit X LLC raised its holdings in shares of The Blackstone Group by 1.1% during the second quarter. Summit X LLC now owns 9,225 shares of the asset manager’s stock worth $898,000 after purchasing an additional 100 shares during the last quarter. Sfmg LLC raised its holdings in shares of The Blackstone Group by 0.6% during the second quarter. Sfmg LLC now owns 16,383 shares of the asset manager’s stock worth $1,591,000 after purchasing an additional 100 shares during the last quarter. Finally, First Bank & Trust raised its holdings in shares of The Blackstone Group by 9.0% during the second quarter. First Bank & Trust now owns 1,217 shares of the asset manager’s stock worth $118,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

In other news, CAO David Payne sold 3,693 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $129.00, for a total value of $476,397.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 64,904 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $115.87, for a total transaction of $7,520,426.48. Following the completion of the sale, the director now directly owns 1,233,634 shares in the company, valued at $142,941,171.58. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 215,657 shares of company stock worth $5,046,801 and sold 507,808 shares worth $40,144,228. Insiders own 1.00% of the company’s stock.

BX has been the subject of a number of recent analyst reports. Argus lifted their price objective on shares of The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft raised shares of The Blackstone Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $135.00 in a report on Wednesday, August 11th. Zacks Investment Research cut shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Tuesday, September 14th. Morgan Stanley lifted their price objective on shares of The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 20th. Finally, Citigroup lifted their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 12th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $98.55.

BX opened at $118.69 on Thursday. The firm has a market capitalization of $81.42 billion, a PE ratio of 18.32 and a beta of 1.35. The Blackstone Group Inc. has a twelve month low of $49.40 and a twelve month high of $136.88. The firm’s 50-day moving average price is $120.92 and its 200 day moving average price is $102.63. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.31.

The Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, July 21st. The asset manager reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.92 billion. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The Blackstone Group’s quarterly revenue was up 90.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, analysts predict that The Blackstone Group Inc. will post 3.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were issued a $0.8475 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 annualized dividend and a yield of 2.86%. The Blackstone Group’s payout ratio is 105.66%.

About The Blackstone Group

Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.

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

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