Security National Bank Purchases 53,290 Shares of The Blackstone Group Inc. (NYSE:BX)

Security National Bank lifted its position in The Blackstone Group Inc. (NYSE:BX) by 648.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 61,510 shares of the asset manager’s stock after buying an additional 53,290 shares during the quarter. The Blackstone Group accounts for about 1.8% of Security National Bank’s investment portfolio, making the stock its 22nd biggest holding. Security National Bank’s holdings in The Blackstone Group were worth $7,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. State Street Corp boosted its position in The Blackstone Group by 112.9% during the second quarter. State Street Corp now owns 14,683,567 shares of the asset manager’s stock worth $1,426,362,000 after purchasing an additional 7,786,660 shares during the period. BlackRock Inc. boosted its position in 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 purchasing an additional 7,339,615 shares during the period. GQG Partners LLC boosted its position in The Blackstone Group by 98.2% during the second quarter. GQG Partners LLC now owns 4,863,229 shares of the asset manager’s stock worth $472,277,000 after purchasing an additional 2,409,492 shares during the period. Deutsche Bank AG boosted its position in The Blackstone Group by 266.8% during the second quarter. Deutsche Bank AG now owns 2,974,044 shares of the asset manager’s stock worth $288,899,000 after purchasing an additional 2,163,243 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in The Blackstone Group by 315.2% during the second quarter. Nuveen Asset Management LLC now owns 2,610,403 shares of the asset manager’s stock worth $253,574,000 after purchasing an additional 1,981,633 shares during the period. 63.14% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Holdings L.P. Blackstone III acquired 30,400 shares of the company’s stock in a transaction on Wednesday, September 22nd. The stock was purchased at an average cost of $39.60 per share, for a total transaction of $1,203,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $129.00, for a total value of $476,397.00. The disclosure for this sale can be found here. Insiders have acquired 65,657 shares of company stock valued at $2,646,801 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Several equities research analysts have recently weighed in on BX shares. Morgan Stanley increased their price objective on The Blackstone Group from $134.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 26th. Citigroup increased their price objective on The Blackstone Group from $114.50 to $141.00 and gave the company a “neutral” rating in a research report on Tuesday, October 26th. BMO Capital Markets increased their price objective on The Blackstone Group from $96.00 to $114.00 and gave the company a “market perform” rating in a research report on Friday, October 22nd. They noted that the move was a valuation call. Bank of America started coverage on The Blackstone Group in a research report on Thursday, November 4th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Zacks Investment Research cut The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a research report on Tuesday, September 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $124.18.

Shares of NYSE BX traded up $2.71 during trading hours on Thursday, reaching $148.23. The stock had a trading volume of 2,751,720 shares, compared to its average volume of 3,427,046. The business’s fifty day moving average is $131.81 and its two-hundred day moving average is $114.79. 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 company has a market cap of $101.82 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.34 and a beta of 1.39. The Blackstone Group Inc. has a twelve month low of $59.11 and a twelve month high of $149.78.

The Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, October 20th. The asset manager reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.37. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $2.17 billion. The Blackstone Group had a return on equity of 16.95% and a net margin of 25.47%. The Blackstone Group’s revenue was up 105.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Sell-side analysts forecast that The Blackstone Group Inc. will post 4.35 earnings per share for the current fiscal year.

The business also recently disclosed 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. This represents a $4.11 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, October 29th. The Blackstone Group’s dividend payout ratio is currently 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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