Blackstone Group LP (NYSE:BX) major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
NYSE BX traded down $0.45 during trading hours on Wednesday, reaching $32.91. The company’s stock had a trading volume of 1,583,768 shares, compared to its average volume of 5,786,963. The firm has a market cap of $21.98 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39. Blackstone Group LP has a 52 week low of $29.57 and a 52 week high of $40.60. 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 (NYSE:BX) last issued its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. As a group, research analysts anticipate that Blackstone Group LP will post 2.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Monday, October 29th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend was Friday, October 26th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.58. Blackstone Group’s dividend payout ratio (DPR) is 91.10%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. bought a new position in Blackstone Group during the 3rd quarter worth approximately $11,424,000. Clarus Wealth Advisors boosted its stake in shares of Blackstone Group by 180.1% in the third quarter. Clarus Wealth Advisors now owns 8,534 shares of the asset manager’s stock worth $325,000 after buying an additional 5,487 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Blackstone Group in the first quarter worth about $5,369,000. PNC Financial Services Group Inc. boosted its stake in shares of Blackstone Group by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 708,399 shares of the asset manager’s stock worth $22,790,000 after buying an additional 19,278 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Blackstone Group by 7.8% in the second quarter. Independent Advisor Alliance now owns 59,405 shares of the asset manager’s stock worth $1,911,000 after buying an additional 4,304 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.
A number of equities research analysts have recently issued reports on BX shares. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, October 17th. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price objective on shares of Blackstone Group in a research note on Friday, July 20th. Argus increased their target price on shares of Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $40.00 target price on shares of Blackstone Group in a report on Friday, July 20th. Finally, Oppenheimer set a $42.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a report on Thursday, July 19th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.95.
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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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