Janney Montgomery Scott LLC Acquires 48,419 Shares of The Blackstone Group L.P. (BX)

Janney Montgomery Scott LLC raised its stake in The Blackstone Group L.P. (NYSE:BX) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,620 shares of the asset manager’s stock after buying an additional 48,419 shares during the period. Janney Montgomery Scott LLC owned approximately 0.06% of The Blackstone Group L.P. worth $13,594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Guggenheim Capital LLC bought a new position in shares of The Blackstone Group L.P. during the fourth quarter worth approximately $200,000. RMB Capital Management LLC bought a new position in shares of The Blackstone Group L.P. during the fourth quarter worth approximately $203,000. Teachers Advisors LLC bought a new position in shares of The Blackstone Group L.P. during the fourth quarter worth approximately $5,042,000. Macquarie Group Ltd. raised its position in shares of The Blackstone Group L.P. by 33.8% in the fourth quarter. Macquarie Group Ltd. now owns 415,903 shares of the asset manager’s stock worth $11,242,000 after buying an additional 105,153 shares in the last quarter. Finally, Cacti Asset Management LLC raised its position in shares of The Blackstone Group L.P. by 59.9% in the first quarter. Cacti Asset Management LLC now owns 931,487 shares of the asset manager’s stock worth $27,656,000 after buying an additional 349,125 shares in the last quarter. 46.44% of the stock is currently owned by institutional investors.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 31.52 on Friday. The Blackstone Group L.P. has a 52 week low of $23.33 and a 52 week high of $35.09. The firm has a market capitalization of $20.45 billion, a PE ratio of 14.17 and a beta of 1.32. The company’s 50 day moving average price is $33.42 and its 200-day moving average price is $31.47.

The Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same quarter in the prior year, the company posted $0.44 EPS. On average, equities research analysts expect that The Blackstone Group L.P. will post $2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, July 27th. This represents a $2.16 dividend on an annualized basis and a yield of 6.85%. The Blackstone Group L.P.’s dividend payout ratio (DPR) is 97.30%.

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A number of analysts have issued reports on the company. Vetr upgraded The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price objective for the company in a research report on Thursday, August 10th. Morgan Stanley restated an “overweight” rating and set a $40.00 target price (up previously from $37.00) on shares of The Blackstone Group L.P. in a research report on Tuesday, July 25th. Zacks Investment Research downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Citigroup Inc. restated a “buy” rating and set a $41.00 target price (up previously from $40.00) on shares of The Blackstone Group L.P. in a research report on Sunday, May 28th. Finally, BidaskClub upgraded The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The Blackstone Group L.P. has a consensus rating of “Buy” and a consensus target price of $37.34.

In related news, insider Joan Solotar sold 30,500 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $33.31, for a total transaction of $1,015,955.00. Following the transaction, the insider now owns 150,281 shares in the company, valued at $5,005,860.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total transaction of $390,750,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,050,500 shares of company stock worth $392,416,555. 1.00% of the stock is owned by insiders.

About The Blackstone Group L.P.

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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

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