Gerber Kawasaki Wealth & Investment Management lifted its stake in Blackstone Group LP (NYSE:BX) by 12.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,521 shares of the asset manager’s stock after purchasing an additional 2,107 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Blackstone Group were worth $581,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Blackstone Group in the 4th quarter worth approximately $26,000. Essex Savings Bank acquired a new position in Blackstone Group in the 4th quarter worth approximately $30,000. MCF Advisors LLC increased its holdings in Blackstone Group by 200.0% in the 4th quarter. MCF Advisors LLC now owns 1,500 shares of the asset manager’s stock worth $45,000 after buying an additional 1,000 shares during the period. JNBA Financial Advisors increased its holdings in Blackstone Group by 850.0% in the 4th quarter. JNBA Financial Advisors now owns 1,900 shares of the asset manager’s stock worth $57,000 after buying an additional 1,700 shares during the period. Finally, TCI Wealth Advisors Inc. acquired a new position in Blackstone Group in the 4th quarter worth approximately $60,000. 50.15% of the stock is owned by hedge funds and other institutional investors.
BX stock traded up $0.45 during midday trading on Friday, reaching $34.88. The stock had a trading volume of 2,776,932 shares, compared to its average volume of 3,526,666. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $22.82 billion, a P/E ratio of 15.43, a PEG ratio of 3.22 and a beta of 1.43. Blackstone Group LP has a 52-week low of $26.88 and a 52-week high of $40.60.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $381.19 million. Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The company’s revenue for the quarter was down 74.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. On average, equities analysts forecast that Blackstone Group LP will post 2.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 19th. Stockholders of record on Monday, February 11th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, February 8th. This represents a $2.32 annualized dividend and a dividend yield of 6.65%. Blackstone Group’s dividend payout ratio is presently 102.65%.
A number of brokerages have recently commented on BX. Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Deutsche Bank dropped their price objective on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Finally, Morgan Stanley dropped their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.54.
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Blackstone Group Company 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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