Blackstone Group LP (NYSE:BX) Major Shareholder Buys $794,000.00 in Stock

Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc purchased 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $7.94 per share, with a total value of $794,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was acquired at an average price of $7.07 per share, with a total value of $561,131.76.
  • On Friday, August 9th, Blackstone Group Inc purchased 64,708 shares of Blackstone Group stock. The stock was acquired at an average price of $7.82 per share, with a total value of $506,016.56.

Shares of Blackstone Group stock opened at $45.72 on Friday. The firm has a market cap of $31.52 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.04 and a beta of 1.47. The business has a 50-day moving average price of $46.74 and a 200-day moving average price of $39.79. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.82. Blackstone Group LP has a twelve month low of $26.88 and a twelve month high of $49.81.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.15 billion. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. The business’s quarterly revenue was down 43.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities analysts expect that Blackstone Group LP will post 2.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.20%. Blackstone Group’s payout ratio is 84.96%.

Several institutional investors have recently modified their holdings of the company. Valley National Advisers Inc. grew its position in shares of Blackstone Group by 1.0% during the second quarter. Valley National Advisers Inc. now owns 23,348 shares of the asset manager’s stock valued at $1,037,000 after purchasing an additional 233 shares in the last quarter. Ashfield Capital Partners LLC grew its position in shares of Blackstone Group by 0.7% during the second quarter. Ashfield Capital Partners LLC now owns 33,573 shares of the asset manager’s stock valued at $1,491,000 after purchasing an additional 242 shares in the last quarter. Cottage Street Advisors LLC grew its position in shares of Blackstone Group by 0.3% during the second quarter. Cottage Street Advisors LLC now owns 75,450 shares of the asset manager’s stock valued at $3,351,000 after purchasing an additional 247 shares in the last quarter. BB&T Corp lifted its holdings in shares of Blackstone Group by 2.3% in the 2nd quarter. BB&T Corp now owns 10,949 shares of the asset manager’s stock valued at $486,000 after acquiring an additional 250 shares during the last quarter. Finally, Girard Partners LTD. lifted its holdings in shares of Blackstone Group by 4.0% in the 2nd quarter. Girard Partners LTD. now owns 7,546 shares of the asset manager’s stock valued at $335,000 after acquiring an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

BX has been the subject of a number of analyst reports. Oppenheimer set a $52.00 price target on Blackstone Group and gave the stock a “buy” rating in a research note on Friday, July 19th. Barclays initiated coverage on Blackstone Group in a research note on Monday, August 5th. They issued an “overweight” rating and a $56.00 price target for the company. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Deutsche Bank increased their price target on Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley increased their price target on Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.10.

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.

Featured Article: How does equity income fit into an investing strategy?

Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.