Blackstone Group LP

BX-N

NYSE:BX

54.14
0.22 (0.41%)
The Blackstone Group L.P. is an American multinational private equity, alternative asset management and financial services firm based in New York City.
More at Wikipedia

Analysis and Opinions about BX-N

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 22, 2019
A very well-run business. It’s in a competitive space and there are tax changes that could make it more profitable. The limit is the intellectual capital of the people running the business. At these valuations, he wouldn’t be a buyer, and if he had holdings, he would take some profits by selling half.
Blackstone Group LP (BX-N)
November 22, 2019
A very well-run business. It’s in a competitive space and there are tax changes that could make it more profitable. The limit is the intellectual capital of the people running the business. At these valuations, he wouldn’t be a buyer, and if he had holdings, he would take some profits by selling half.
John O'Connell, CFA
Chairman and CEO, Davis Rea
Price
$51.260
Owned
No
BUY
BUY
November 5, 2019

The largest private equity company in the world. BX has raised a ton of money lately, but the trouble is how do they put this money to work? Low interest rates help, because they leverage a lot. They are in real estate, and loans, not just private equity--so well-diversified. Problem is, BX now competes heavily in private markets (with BAM-N, for example), an area which enjoys higher rates of return. There's a lot of money chasing fewer deals. However, BX is an incredibly well-run company.

Blackstone Group LP (BX-N)
November 5, 2019

The largest private equity company in the world. BX has raised a ton of money lately, but the trouble is how do they put this money to work? Low interest rates help, because they leverage a lot. They are in real estate, and loans, not just private equity--so well-diversified. Problem is, BX now competes heavily in private markets (with BAM-N, for example), an area which enjoys higher rates of return. There's a lot of money chasing fewer deals. However, BX is an incredibly well-run company.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$52.790
Owned
Unknown
WEAK BUY
WEAK BUY
October 28, 2019

It has been a fantastic global private equity business. They made a huge play at rolling up a lot of these industrial real estate portfolios across the world. They do all kinds of different asset allocations across the world. They announced they will convert from a partnership into a corp. so the share price increased due to anticipation of this being part of an index, thereby making all kinds of institutions need to own it because it is the index. He prefers ONEX-T to BX-N.

Blackstone Group LP (BX-N)
October 28, 2019

It has been a fantastic global private equity business. They made a huge play at rolling up a lot of these industrial real estate portfolios across the world. They do all kinds of different asset allocations across the world. They announced they will convert from a partnership into a corp. so the share price increased due to anticipation of this being part of an index, thereby making all kinds of institutions need to own it because it is the index. He prefers ONEX-T to BX-N.

Bryden Teich
Portfolio Manager, Avenue Investment Management
Price
$52.790
Owned
No
COMMENT
COMMENT
October 8, 2019
There's been a big sell-off in financials with declining interest rates. BX just converted into a corporation, so funds could now buy it a He sold his shares before the July 1 conversion. A diversified holding.
There's been a big sell-off in financials with declining interest rates. BX just converted into a corporation, so funds could now buy it a He sold his shares before the July 1 conversion. A diversified holding.
Jamie Murray
Head of research, Murray Wealth Group
Price
$45.610
Owned
No
WATCH
WATCH
October 2, 2019
Trade tension exposure? He is not sure how their portfolio is exposed to the China trade tensions. Their success rides off credit availability (more is better for their company) and when they optimize the business before selling out of it (better when markets are weak). Strong markets and widening credit spreads make it tough right now. Keep it on the watch list though.
Trade tension exposure? He is not sure how their portfolio is exposed to the China trade tensions. Their success rides off credit availability (more is better for their company) and when they optimize the business before selling out of it (better when markets are weak). Strong markets and widening credit spreads make it tough right now. Keep it on the watch list though.
David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$46.660
Owned
No
COMMENT
COMMENT
October 2, 2019

For CG-Q he has concerns about times when asset prices are bid up during strong market times. As an active asset manager, this can make their business more challenging. He would go for best in class in this category and that is BX-N.

For CG-Q he has concerns about times when asset prices are bid up during strong market times. As an active asset manager, this can make their business more challenging. He would go for best in class in this category and that is BX-N.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$46.660
Owned
Unknown
BUY WEAKNESS
BUY WEAKNESS
September 25, 2019
They should do well long-term. They continue to raise money for their funds in real estate -- the latest was $20 billion to buy DreamGlobal. You probably want to wait for a better entry point. Yield 3.5%
Blackstone Group LP (BX-N)
September 25, 2019
They should do well long-term. They continue to raise money for their funds in real estate -- the latest was $20 billion to buy DreamGlobal. You probably want to wait for a better entry point. Yield 3.5%
John Kim
Portfolio Manager, Aston Hill Financial
Price
$52.840
Owned
Unknown
COMMENT
COMMENT
September 17, 2019
They converted from an LP to a corporation which attracted a different shareholder base (index funds). This shift spiked their valuation. He owns BAM instead, which shares the same drivers as BX: low yields, pension plans and institutional investors. These stocks are essentially synthetic bonds with assets. Trades at 15x forward distributed earnings. BX is a well-run company in a shareholder-friendly space.
Blackstone Group LP (BX-N)
September 17, 2019
They converted from an LP to a corporation which attracted a different shareholder base (index funds). This shift spiked their valuation. He owns BAM instead, which shares the same drivers as BX: low yields, pension plans and institutional investors. These stocks are essentially synthetic bonds with assets. Trades at 15x forward distributed earnings. BX is a well-run company in a shareholder-friendly space.
Christopher Blumas
Vice-President & Portfolio Manager, GlobeInvest Capital Management
Price
$53.520
Owned
No
COMMENT
COMMENT
July 11, 2019
Really good company. Nice yield. Principal problem is it's run right up to fair market value. Earnings forecast has leveled out. Stock's coming to a peak of momentum to drive it higher.
Really good company. Nice yield. Principal problem is it's run right up to fair market value. Earnings forecast has leveled out. Stock's coming to a peak of momentum to drive it higher.
Ross Healy
Chairman, Strategic Analysis Corp
Price
$46.070
Owned
Unknown
BUY
BUY
May 23, 2019
They bought it below $35. He likes the dividend. They are converting to a corporation.
They bought it below $35. He likes the dividend. They are converting to a corporation.
Bruce Murray
CEO & Chief Investment Officer, The Murray Wealth Group
Price
$41.150
Owned
Yes
DON'T BUY
DON'T BUY
February 6, 2019
2-year outlook They may change their corporate structure from a limited partnership to a regular tax-paying corporation. Also, their Q4 was volatile with revenues being only one-third compared to the previous year. Their share price is flat over a long period of time.
Blackstone Group LP (BX-N)
February 6, 2019
2-year outlook They may change their corporate structure from a limited partnership to a regular tax-paying corporation. Also, their Q4 was volatile with revenues being only one-third compared to the previous year. Their share price is flat over a long period of time.
Gordon Reid
President, GoodReid Investment Counsel
Price
$34.570
Owned
Unknown
COMMENT
COMMENT
January 29, 2019
High-yielding stock, but in a tight trading range of $31-36. Get this for steady dividends only. Exit below $31.
Blackstone Group LP (BX-N)
January 29, 2019
High-yielding stock, but in a tight trading range of $31-36. Get this for steady dividends only. Exit below $31.
Jeff Parent B. Eng. FCSI CIM
VP & Portfolio Manager, Chief Investment Officer, Castlemoore Inc.
Price
$33.160
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
January 4, 2019
(A Top Pick Sep 06/18, Down 13%) An alternative asset manager -- the biggest in the space. They shell out 5-10% in a yield. He continues to like them.
(A Top Pick Sep 06/18, Down 13%) An alternative asset manager -- the biggest in the space. They shell out 5-10% in a yield. He continues to like them.
Tim Regan
Managing Director, Kingwest & Company
Price
$30.230
Owned
Yes
TOP PICK
TOP PICK
September 6, 2018

They have done a great job. They are raising a lot of money. It is still a limited partnership. When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index. (Analysts’ target: $41.08).

Blackstone Group LP (BX-N)
September 6, 2018

They have done a great job. They are raising a lot of money. It is still a limited partnership. When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index. (Analysts’ target: $41.08).

Tim Regan
Managing Director, Kingwest & Company
Price
$35.460
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 30, 2018

(A Top Pick June 22/17 - Up 12%.) Up 21% including the dividends. The largest private equity company in the world. They have $100 billion in cash as firepower. In the US there is a big push from pension plans to go to alternative asset classes.

(A Top Pick June 22/17 - Up 12%.) Up 21% including the dividends. The largest private equity company in the world. They have $100 billion in cash as firepower. In the US there is a big push from pension plans to go to alternative asset classes.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$36.890
Owned
Yes
PAST TOP PICK
PAST TOP PICK
July 20, 2018

(A Top Pick May 1/17 - Up 23%.) The largest private equity company in the world. Has a great dividend yield. A great story. They are not a corporation therefore not on the S&P 500. With the tax changes there is a rumor that they will become a corporation and be part of the index and would get a bump. Outside of that, these guys have been very astute.

(A Top Pick May 1/17 - Up 23%.) The largest private equity company in the world. Has a great dividend yield. A great story. They are not a corporation therefore not on the S&P 500. With the tax changes there is a rumor that they will become a corporation and be part of the index and would get a bump. Outside of that, these guys have been very astute.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$35.640
Owned
Yes
PAST TOP PICK
PAST TOP PICK
June 25, 2018

(A Top Pick Aug 10/17, Up 5%) Most of the return is from the dividend. It trades 8-9 times PE and pays a good dividend. If it were not a limited partnership, it would be in the S&P index. KKR-N is considering changing to a corporation for this reason and if it goes well, BX-N might do the same thing.

(A Top Pick Aug 10/17, Up 5%) Most of the return is from the dividend. It trades 8-9 times PE and pays a good dividend. If it were not a limited partnership, it would be in the S&P index. KKR-N is considering changing to a corporation for this reason and if it goes well, BX-N might do the same thing.

Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$31.990
Owned
Yes
DON'T BUY
DON'T BUY
June 18, 2018

He won't comment on this company, but the space instead. In the private equity industry, the best time to buy assets is during economic distress when they're cheap. Those assets go into the company's funds and rise in value. The best times to buy PE companies is during pullbacks like 2008-9 and 2011 which then benefitted from the recoveries. Also, credit spreads are narrow now and if they widen that becomes a problem, because these companies borrow to finance their purchases. He's not involved in private equity.

He won't comment on this company, but the space instead. In the private equity industry, the best time to buy assets is during economic distress when they're cheap. Those assets go into the company's funds and rise in value. The best times to buy PE companies is during pullbacks like 2008-9 and 2011 which then benefitted from the recoveries. Also, credit spreads are narrow now and if they widen that becomes a problem, because these companies borrow to finance their purchases. He's not involved in private equity.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$33.040
Owned
No
PAST TOP PICK
PAST TOP PICK
June 7, 2018

(Past Top Pick on April 13, 2017, Up 24%) The largest private equity company in the world. A catalyst are the changing tax laws in the States. They're grown aggressively. They have $100 billion of cash to buy new deals. It's a good time to exit parts of their operation. Many US pension plans hire Blackstone to handle their private equity.

(Past Top Pick on April 13, 2017, Up 24%) The largest private equity company in the world. A catalyst are the changing tax laws in the States. They're grown aggressively. They have $100 billion of cash to buy new deals. It's a good time to exit parts of their operation. Many US pension plans hire Blackstone to handle their private equity.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$32.660
Owned
Yes
PAST TOP PICK
PAST TOP PICK
June 1, 2018

(January 12, 2018, Down 5%) The fees they earn off their business are consistently rising. BX could convert into a coporate structure from an LLP one; this means more people can own the stock. It trades at 10x earnings and pays an 8% dividend.

(January 12, 2018, Down 5%) The fees they earn off their business are consistently rising. BX could convert into a coporate structure from an LLP one; this means more people can own the stock. It trades at 10x earnings and pays an 8% dividend.

Bryden Teich
Portfolio Manager, Avenue Investment Management
Price
$32.340
Owned
Yes
HOLD
HOLD
May 8, 2018

Owns another company in this space. It's an alternative asset manager. They're raising money to make future investments. You want some stocks in alternative investment companies, but BX is volatile. If you own it, that's fine.

Owns another company in this space. It's an alternative asset manager. They're raising money to make future investments. You want some stocks in alternative investment companies, but BX is volatile. If you own it, that's fine.

Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
Price
$31.640
Owned
No
COMMENT
COMMENT
April 27, 2018

The success of this will be driven by interest rates remaining reasonable and continued growth in the economy. The MLP format changes will likely favour this one on balance.

The success of this will be driven by interest rates remaining reasonable and continued growth in the economy. The MLP format changes will likely favour this one on balance.

David Dietze
Founder, Pres. & Chief Investment Strategist, Point View Wealth Management
Price
$30.830
Owned
No
PAST TOP PICK
PAST TOP PICK
April 26, 2018

(A Top Pick March 8/17 - Up 8%.) The largest private equity company in the world. Has a great dividend yield. A great story. They are not a corporation therefore not on the S&P 500. With the tax changes there are rumors that they will become a corporation and be part of the index and would get a bump.

(A Top Pick March 8/17 - Up 8%.) The largest private equity company in the world. Has a great dividend yield. A great story. They are not a corporation therefore not on the S&P 500. With the tax changes there are rumors that they will become a corporation and be part of the index and would get a bump.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$31.510
Owned
Yes
DON'T BUY
DON'T BUY
March 27, 2018

He never liked this. It's too opaque. They may be a great money manager, but you don't know what they own. They don't disclose well. Yield above 10%.

He never liked this. It's too opaque. They may be a great money manager, but you don't know what they own. They don't disclose well. Yield above 10%.

John Zechner
Chairman, J. Zechner & Assoc
Price
$31.770
Owned
Unknown
COMMENT
COMMENT
March 19, 2018

People love the yield, around 8%. They've done well putting capital to work. A long-term story for 10 years, because that's the cycle they're investing in. He looks at private equity stocks in cycle terms. A Buffett-style holding.

People love the yield, around 8%. They've done well putting capital to work. A long-term story for 10 years, because that's the cycle they're investing in. He looks at private equity stocks in cycle terms. A Buffett-style holding.

Cameron Hurst
Chief Investment Officer, Equium Capital Management
Price
$33.380
Owned
Unknown
BUY WEAKNESS
BUY WEAKNESS
March 14, 2018

He likes this stock and thinks the dividend is safe. He loves the US financial space. His model price is $54.56. The yield is near 10%.

He likes this stock and thinks the dividend is safe. He loves the US financial space. His model price is $54.56. The yield is near 10%.

Brian Acker, CA
Chief Executive Officer, President and Chief Inves, Acker Finley Inc.
Price
$33.980
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
March 12, 2018

(A Top Pick Feb.23, 2017, Up 23%) The largest private equity company in the world. With $100 billion on hand, they've made astute investments and now, as the markets rise, they can exit on them. (Structured like an LP, so not everyone can own it.) Trades cheaply. It may move into the S&P which will help them.

(A Top Pick Feb.23, 2017, Up 23%) The largest private equity company in the world. With $100 billion on hand, they've made astute investments and now, as the markets rise, they can exit on them. (Structured like an LP, so not everyone can own it.) Trades cheaply. It may move into the S&P which will help them.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$34.430
Owned
Yes
COMMENT
COMMENT
February 13, 2018

This company does private equity and is similar to Brookfield Asset Management, which is what she owns in Canada. They are the leader in their space. They are raising cash for new funds, which is usually a good time to get into a stock like this. She is considering buying but has not yet decided whether to buy it.

Blackstone Group LP (BX-N)
February 13, 2018

This company does private equity and is similar to Brookfield Asset Management, which is what she owns in Canada. They are the leader in their space. They are raising cash for new funds, which is usually a good time to get into a stock like this. She is considering buying but has not yet decided whether to buy it.

Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
Price
$33.550
Owned
No
PAST TOP PICK
PAST TOP PICK
February 1, 2018

(A Top Pick January 16/17. Up 20.8%.) The largest private equity company in the world. Continue to do well. Numbers came out today and they were very good. Pays a high dividend yield of 6.5%. They have been very good at buying good companies when the market was difficult. The problem he sees is that the space is too crowded. The other aspect is that they get paid through carried interest, so they are not a corporation, so they are not in the S&P. If they convert to a corporation because of the tax changes, they could maybe be included in the S&P and get a valuation bump. He would hold it to the high 40s.

Blackstone Group LP (BX-N)
February 1, 2018

(A Top Pick January 16/17. Up 20.8%.) The largest private equity company in the world. Continue to do well. Numbers came out today and they were very good. Pays a high dividend yield of 6.5%. They have been very good at buying good companies when the market was difficult. The problem he sees is that the space is too crowded. The other aspect is that they get paid through carried interest, so they are not a corporation, so they are not in the S&P. If they convert to a corporation because of the tax changes, they could maybe be included in the S&P and get a valuation bump. He would hold it to the high 40s.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$36.350
Owned
Yes
WEAK BUY
WEAK BUY
January 25, 2018

It is a little bit rich. He is into the sector through KKR-N. The valuation is a bit better there and they have a nice yield. As the M&A frenzy takes hold, the whole group will be better positioned.

Blackstone Group LP (BX-N)
January 25, 2018

It is a little bit rich. He is into the sector through KKR-N. The valuation is a bit better there and they have a nice yield. As the M&A frenzy takes hold, the whole group will be better positioned.

Don Lato
President, Padlock Investment Management
Price
$36.350
Owned
No
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