Wilks Brothers LLC increased its position in Blackstone Group LP (NYSE:BX) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186,700 shares of the asset manager’s stock after acquiring an additional 21,000 shares during the period. Blackstone Group comprises about 0.8% of Wilks Brothers LLC’s investment portfolio, making the stock its 27th biggest holding. Wilks Brothers LLC’s holdings in Blackstone Group were worth $7,110,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Canton Hathaway LLC bought a new stake in Blackstone Group during the third quarter valued at about $114,000. Harvest Fund Management Co. Ltd bought a new stake in Blackstone Group during the third quarter valued at about $115,000. Quad Cities Investment Group LLC bought a new stake in Blackstone Group during the second quarter valued at about $122,000. QCI Asset Management Inc. NY grew its holdings in Blackstone Group by 800.0% during the third quarter. QCI Asset Management Inc. NY now owns 4,500 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 4,000 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Blackstone Group during the third quarter valued at about $175,000. 49.39% of the stock is owned by institutional investors.
NYSE BX opened at $31.80 on Tuesday. The stock has a market capitalization of $21.50 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.05 and a beta of 1.39. 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 twelve month low of $30.08 and a twelve month high of $40.60.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Equities research analysts predict that Blackstone Group LP will post 2.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Monday, October 29th were paid a $0.64 dividend. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 26th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 8.05%. Blackstone Group’s dividend payout ratio is 91.10%.
Several analysts have issued reports on BX shares. Zacks Investment Research raised Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, October 17th. Argus boosted their price target on Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. JMP Securities boosted their price target on Blackstone Group from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Deutsche Bank cut their price target on Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Friday. Finally, ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $42.27.
In other Blackstone Group news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $25.00 per share, with a total value of $4,800,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Blackstone Group Profile
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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