Blackstone Group LP (BX) Stake Decreased by Augustine Asset Management Inc.

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Augustine Asset Management Inc. reduced its stake in shares of Blackstone Group LP (NYSE:BX) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,515 shares of the asset manager’s stock after selling 1,700 shares during the period. Augustine Asset Management Inc.’s holdings in Blackstone Group were worth $462,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BX. Morgan Stanley raised its holdings in Blackstone Group by 0.9% in the third quarter. Morgan Stanley now owns 31,144,347 shares of the asset manager’s stock valued at $1,185,976,000 after buying an additional 273,178 shares during the period. Capital World Investors raised its holdings in Blackstone Group by 4.2% in the third quarter. Capital World Investors now owns 18,545,079 shares of the asset manager’s stock valued at $706,197,000 after buying an additional 749,015 shares during the period. Bank of Montreal Can raised its holdings in Blackstone Group by 58.3% in the fourth quarter. Bank of Montreal Can now owns 14,094,176 shares of the asset manager’s stock valued at $420,147,000 after buying an additional 5,189,588 shares during the period. Swedbank raised its holdings in Blackstone Group by 3.6% in the fourth quarter. Swedbank now owns 5,701,485 shares of the asset manager’s stock valued at $171,558,000 after buying an additional 200,000 shares during the period. Finally, Credit Suisse AG raised its holdings in Blackstone Group by 28.4% in the third quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock valued at $153,685,000 after buying an additional 892,933 shares during the period. Institutional investors and hedge funds own 50.35% of the company’s stock.

Shares of NYSE:BX opened at $33.77 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. Blackstone Group LP has a 52-week low of $26.88 and a 52-week high of $40.60. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.14 and a beta of 1.43.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). Blackstone Group had a net margin of 22.56% and a return on equity of 16.33%. The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $381.19 million. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was down 74.2% compared to the same quarter last year. On average, analysts anticipate that Blackstone Group LP will post 2.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 19th. Shareholders of record on Monday, February 11th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Friday, February 8th. Blackstone Group’s dividend payout ratio (DPR) is 102.65%.

Several research analysts recently commented on BX shares. Morgan Stanley cut their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Deutsche Bank cut their price target on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, November 16th. Finally, Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $42.54.

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About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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

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