Blackstone Group LP (NYSE:BX) Vice Chairman J Tomilson Hill sold 674,257 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $36.48, for a total value of $24,596,895.36. Following the transaction, the insider now owns 928,884 shares in the company, valued at $33,885,688.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
J Tomilson Hill also recently made the following trade(s):
- On Thursday, August 16th, J Tomilson Hill sold 81,420 shares of Blackstone Group stock. The shares were sold at an average price of $35.95, for a total value of $2,927,049.00.
NYSE BX opened at $36.49 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.12 and a beta of 1.36. Blackstone Group LP has a 1-year low of $29.57 and a 1-year high of $37.52.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $1.74 billion. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The company’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. sell-side analysts predict that Blackstone Group LP will post 3.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 6th. Stockholders of record on Monday, July 30th were issued a $0.58 dividend. This is an increase from Blackstone Group’s previous quarterly dividend of $0.35. This represents a $2.32 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Friday, July 27th. Blackstone Group’s payout ratio is presently 82.56%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Blackstone Group from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Citigroup lifted their price objective on Blackstone Group from $41.50 to $43.00 and gave the company a “buy” rating in a report on Friday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $40.00 price objective on shares of Blackstone Group in a report on Friday, July 20th. Credit Suisse Group decreased their price objective on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, July 20th. Finally, ValuEngine downgraded Blackstone Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.50.
Institutional investors and hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new position in shares of Blackstone Group in the 1st quarter worth approximately $119,000. Quad Cities Investment Group LLC acquired a new position in shares of Blackstone Group in the 2nd quarter worth approximately $122,000. AlphaMark Advisors LLC acquired a new position in shares of Blackstone Group in the 1st quarter worth approximately $141,000. Rockefeller Capital Management L.P. acquired a new position in shares of Blackstone Group in the 1st quarter worth approximately $142,000. Finally, Archford Capital Strategies LLC acquired a new position in shares of Blackstone Group in the 1st quarter worth approximately $147,000. 46.27% of the stock is currently owned by institutional investors and hedge funds.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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