Security National Bank Raises Stock Position in The Blackstone Group Inc. (NYSE:BX)

Security National Bank lifted its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 648.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,510 shares of the asset manager’s stock after acquiring an additional 53,290 shares during the quarter. The Blackstone Group makes up approximately 1.8% of Security National Bank’s holdings, making the stock its 22nd biggest holding. Security National Bank’s holdings in The Blackstone Group were worth $7,157,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of The Blackstone Group by 2.3% during the second quarter. Vanguard Group Inc. now owns 39,344,478 shares of the asset manager’s stock worth $3,821,923,000 after acquiring an additional 869,370 shares during the period. BlackRock Inc. lifted its stake in shares of The Blackstone Group by 31.6% during the second quarter. BlackRock Inc. now owns 30,579,280 shares of the asset manager’s stock worth $2,970,472,000 after buying an additional 7,339,615 shares during the period. Morgan Stanley raised its holdings in shares of The Blackstone Group by 9.0% during the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock worth $1,989,163,000 after purchasing an additional 1,691,281 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of The Blackstone Group by 3.1% during the second quarter. Royal Bank of Canada now owns 16,575,434 shares of the asset manager’s stock worth $1,610,139,000 after purchasing an additional 491,113 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of The Blackstone Group by 0.7% during the second quarter. Capital International Investors now owns 16,441,365 shares of the asset manager’s stock worth $1,597,114,000 after purchasing an additional 121,471 shares during the last quarter. 63.14% of the stock is currently owned by institutional investors and hedge funds.

BX has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of The Blackstone Group from $134.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 26th. Bank of America assumed coverage on shares of The Blackstone Group in a report on Thursday, November 4th. They issued a “buy” rating and a $182.00 price objective for the company. 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. BMO Capital Markets lifted their price objective on shares of The Blackstone Group from $96.00 to $114.00 and gave the company a “market perform” rating in a report on Friday, October 22nd. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Blackstone Group from $135.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, October 22nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $124.18.

In other news, major shareholder Holdings L.P. Blackstone II sold 500,000 shares of the business’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $76.00, for a total transaction of $38,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Payne sold 3,693 shares of the business’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $129.00, for a total transaction of $476,397.00. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 65,657 shares of company stock valued at $2,646,801. 1.00% of the stock is owned by insiders.

Shares of NYSE:BX traded up $2.71 during midday trading on Thursday, reaching $148.23. The company had a trading volume of 2,751,720 shares, compared to its average volume of 3,427,046. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $131.81 and its 200-day moving average price is $114.79. The stock has a market capitalization of $101.82 billion, a P/E ratio of 20.33, a PEG ratio of 1.34 and a beta of 1.39. The Blackstone Group Inc. has a one year low of $59.11 and a one year high of $149.78.

The Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, October 20th. The asset manager reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.37. The Blackstone Group had a net margin of 25.47% and a return on equity of 16.95%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 105.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Blackstone Group Inc. will post 4.35 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 8th. Shareholders of record on Monday, November 1st were paid a dividend of $1.0275 per share. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, October 29th. This represents a $4.11 annualized dividend and a yield of 2.77%. The Blackstone Group’s payout ratio is presently 59.81%.

The Blackstone Group Company Profile

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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