First Trust Advisors LP acquired a new position in shares of Blackstone Group LP (NYSE:BX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 208,888 shares of the asset manager’s stock, valued at approximately $11,685,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burt Wealth Advisors purchased a new position in Blackstone Group during the third quarter worth $26,000. Allworth Financial LP lifted its position in shares of Blackstone Group by 359.8% during the fourth quarter. Allworth Financial LP now owns 469 shares of the asset manager’s stock worth $26,000 after purchasing an additional 367 shares during the last quarter. Carmichael Hill & Associates Inc. bought a new stake in shares of Blackstone Group during the fourth quarter worth $28,000. Hartford Financial Management Inc. bought a new stake in shares of Blackstone Group during the third quarter worth $30,000. Finally, TCI Wealth Advisors Inc. bought a new stake in shares of Blackstone Group during the third quarter worth $32,000. 53.91% of the stock is owned by institutional investors.
In related news, major shareholder Blackstone Group Inc sold 8,875,211 shares of Blackstone Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $2.50, for a total value of $22,188,027.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone Group stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $63.61, for a total value of $1,590,250.00. Following the completion of the sale, the insider now owns 135,489 shares of the company’s stock, valued at $8,618,455.29. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
NYSE:BX opened at $62.95 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $59.85 and a 200-day simple moving average of $53.03. The company has a market cap of $41.51 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. Blackstone Group LP has a twelve month low of $32.39 and a twelve month high of $64.97.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.55 billion. Blackstone Group had a return on equity of 14.07% and a net margin of 27.93%. The firm’s quarterly revenue was up 314.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. As a group, equities research analysts predict that Blackstone Group LP will post 3.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a $0.61 dividend. This is an increase from Blackstone Group’s previous quarterly dividend of $0.49. This represents a $2.44 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Friday, February 7th. Blackstone Group’s payout ratio is presently 105.63%.
Several analysts have recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating and set a $65.00 target price on shares of Blackstone Group in a research report on Sunday, February 2nd. Morgan Stanley lifted their target price on Blackstone Group from $60.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Barclays reiterated a “buy” rating and set a $70.00 target price on shares of Blackstone Group in a research report on Sunday, February 2nd. Deutsche Bank lifted their target price on Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Co lifted their target price on Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Blackstone Group has a consensus rating of “Hold” and a consensus target price of $60.80.
About Blackstone Group
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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