Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc purchased 64,708 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $7.82 per share, for a total transaction of $506,016.56. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Blackstone Group Inc also recently made the following trade(s):
- On Wednesday, August 14th, Blackstone Group Inc purchased 79,368 shares of Blackstone Group stock. The shares were acquired at an average price of $7.07 per share, for a total transaction of $561,131.76.
- On Monday, August 12th, Blackstone Group Inc purchased 100,000 shares of Blackstone Group stock. The shares were acquired at an average price of $7.94 per share, for a total transaction of $794,000.00.
NYSE BX opened at $45.72 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $46.74 and a 200 day simple moving average of $39.79. The company has a market cap of $31.52 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.04 and a beta of 1.47. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $49.81.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. Blackstone Group’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Equities research analysts forecast that Blackstone Group LP will post 2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is presently 84.96%.
Institutional investors have recently modified their holdings of the business. Resources Investment Advisors Inc. boosted its holdings in Blackstone Group by 606.0% in the 1st quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 606 shares during the period. Cypress Capital Management LLC WY bought a new stake in Blackstone Group in the 2nd quarter valued at $25,000. Investors Research Corp bought a new stake in Blackstone Group in the 1st quarter valued at $28,000. Centaurus Financial Inc. boosted its holdings in Blackstone Group by 194.0% in the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 683 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in Blackstone Group in the 1st quarter valued at $32,000. 45.54% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on BX shares. Zacks Investment Research upgraded shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 25th. Barclays started coverage on shares of Blackstone Group in a report on Monday, August 5th. They set an “overweight” rating and a $56.00 price objective for the company. Deutsche Bank upped their price objective on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. JMP Securities downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Finally, Citigroup set a $52.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.10.
About Blackstone Group
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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