The Blackstone Group Inc. (NYSE:BX) Holdings Boosted by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in shares of The Blackstone Group Inc. (NYSE:BX) by 5.9% during the 1st quarter, HoldingsChannel reports. The firm owned 9,929,224 shares of the asset manager’s stock after buying an additional 552,507 shares during the quarter. The Blackstone Group accounts for 1.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 5th biggest holding. CIBC Private Wealth Group LLC’s holdings in The Blackstone Group were worth $740,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in shares of The Blackstone Group by 18.3% during the 1st quarter. Ritholtz Wealth Management now owns 9,051 shares of the asset manager’s stock valued at $675,000 after buying an additional 1,400 shares during the period. J. L. Bainbridge & Co. Inc. lifted its position in The Blackstone Group by 3.3% during the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 6,396 shares of the asset manager’s stock worth $477,000 after acquiring an additional 207 shares during the last quarter. Sei Investments Co. lifted its position in The Blackstone Group by 1.7% during the 1st quarter. Sei Investments Co. now owns 90,327 shares of the asset manager’s stock worth $6,410,000 after acquiring an additional 1,537 shares during the last quarter. Brinker Capital Investments LLC lifted its position in The Blackstone Group by 10.2% during the 1st quarter. Brinker Capital Investments LLC now owns 79,960 shares of the asset manager’s stock worth $5,959,000 after acquiring an additional 7,397 shares during the last quarter. Finally, Pinnacle Advisory Group Inc. acquired a new position in The Blackstone Group during the 1st quarter worth $401,000. Hedge funds and other institutional investors own 60.72% of the company’s stock.

The Blackstone Group stock traded up $0.58 during mid-day trading on Friday, reaching $94.24. The company’s stock had a trading volume of 23,899 shares, compared to its average volume of 3,035,505. The stock has a market cap of $64.48 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The Blackstone Group Inc. has a 12 month low of $49.26 and a 12 month high of $95.18. The firm’s 50 day simple moving average is $86.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09.

The Blackstone Group (NYSE:BX) last posted its earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.24. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.65 billion. The Blackstone Group had a net margin of 26.66% and a return on equity of 15.52%. During the same quarter last year, the company posted $0.46 EPS. As a group, analysts predict that The Blackstone Group Inc. will post 3.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, April 30th. The Blackstone Group’s dividend payout ratio is presently 123.77%.

In other The Blackstone Group news, major shareholder Lifesciences Iii L.P. Clarus purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, May 11th. The shares were acquired at an average cost of $17.00 per share, with a total value of $510,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 36,000 shares of the firm’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $90.57, for a total transaction of $3,260,520.00. Following the transaction, the insider now directly owns 327,489 shares in the company, valued at $29,660,678.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,047,577 shares of company stock valued at $147,529,685. 1.00% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Blackstone Group from $66.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, April 23rd. Zacks Investment Research upgraded shares of The Blackstone Group from a “hold” rating to a “strong-buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, April 27th. Oppenheimer reiterated a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Argus upped their target price on shares of The Blackstone Group from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 27th. Finally, Barclays upped their target price on shares of The Blackstone Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, April 19th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $78.09.

The Blackstone Group Company Profile

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

See Also: Index Funds

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Institutional Ownership by Quarter for The Blackstone Group (NYSE:BX)

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