Triangle Securities Wealth Management Acquires 918 Shares of The Blackstone Group Inc. (NYSE:BX)

Triangle Securities Wealth Management lifted its holdings in shares of The Blackstone Group Inc. (NYSE:BX) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,348 shares of the asset manager’s stock after acquiring an additional 918 shares during the period. The Blackstone Group accounts for approximately 2.5% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 6th biggest holding. Triangle Securities Wealth Management’s holdings in The Blackstone Group were worth $7,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in The Blackstone Group by 101.4% during the second quarter. Meeder Asset Management Inc. now owns 288 shares of the asset manager’s stock worth $28,000 after buying an additional 145 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in The Blackstone Group during the second quarter worth approximately $32,000. Versant Capital Management Inc increased its position in The Blackstone Group by 35.2% during the second quarter. Versant Capital Management Inc now owns 426 shares of the asset manager’s stock worth $41,000 after buying an additional 111 shares during the period. Private Capital Group LLC increased its position in The Blackstone Group by 45.2% during the third quarter. Private Capital Group LLC now owns 443 shares of the asset manager’s stock worth $52,000 after buying an additional 138 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in The Blackstone Group during the third quarter worth approximately $55,000. 63.14% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on The Blackstone Group from $96.00 to $114.00 and gave the company a “market perform” rating in a research note on Friday, October 22nd. They noted that the move was a valuation call. Bank of America assumed coverage on The Blackstone Group in a research note on Thursday, November 4th. They issued a “buy” rating and a $182.00 target price on the stock. Morgan Stanley lifted their target price on The Blackstone Group from $134.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 26th. Citigroup lifted their target price on The Blackstone Group from $114.50 to $141.00 and gave the company a “neutral” rating in a research note on Tuesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on The Blackstone Group from $135.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $124.18.

In other The Blackstone Group news, major shareholder Holdings L.P. Blackstone III bought 30,400 shares of the company’s stock in a transaction that occurred 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David Payne sold 3,693 shares of the company’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. Over the last ninety days, insiders have purchased 65,657 shares of company stock valued at $2,646,801. 1.00% of the stock is currently owned by insiders.

Shares of BX stock opened at $148.23 on Thursday. The stock has a fifty day moving average price of $131.81 and a 200 day moving average price of $114.79. The stock has a market cap of $101.82 billion, a PE ratio of 20.33, a P/E/G ratio of 1.34 and a beta of 1.39. The Blackstone Group Inc. has a 1 year low of $59.11 and a 1 year high of $149.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 0.96.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Wednesday, October 20th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.37. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.63 earnings per share. As a group, equities research analysts predict that The Blackstone Group Inc. will post 4.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 8th. Investors of record on Monday, November 1st were issued a dividend of $1.0275 per share. The ex-dividend date was Friday, October 29th. This is a boost 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 Blackstone Group’s payout ratio is currently 59.81%.

The Blackstone Group 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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