Nicholas Hoffman & Company LLC. Acquires New Holdings in The Blackstone Group Inc. (NYSE:BX)

Nicholas Hoffman & Company LLC. purchased a new position in The Blackstone Group Inc. (NYSE:BX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,061 shares of the asset manager’s stock, valued at approximately $200,000.

A number of other hedge funds also recently added to or reduced their stakes in BX. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in The Blackstone Group by 0.9% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,022 shares of the asset manager’s stock valued at $1,071,000 after buying an additional 99 shares during the last quarter. Summit X LLC raised its holdings in The Blackstone Group by 1.1% during the 2nd quarter. Summit X LLC now owns 9,225 shares of the asset manager’s stock valued at $898,000 after buying an additional 100 shares during the last quarter. Sfmg LLC raised its holdings in The Blackstone Group by 0.6% during the 2nd quarter. Sfmg LLC now owns 16,383 shares of the asset manager’s stock valued at $1,591,000 after buying an additional 100 shares during the last quarter. First Bank & Trust raised its holdings in The Blackstone Group by 9.0% during the 2nd quarter. First Bank & Trust now owns 1,217 shares of the asset manager’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. Finally, GYL Financial Synergies LLC raised its holdings in The Blackstone Group by 1.6% during the 2nd quarter. GYL Financial Synergies LLC now owns 6,838 shares of the asset manager’s stock valued at $664,000 after buying an additional 108 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

In other news, CAO David Payne sold 3,693 shares of The Blackstone Group stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $129.00, for a total transaction of $476,397.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 64,904 shares of The Blackstone Group stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $115.87, for a total transaction of $7,520,426.48. Following the sale, the director now owns 1,233,634 shares in the company, valued at approximately $142,941,171.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,477 shares of company stock worth $40,210,412. 1.00% of the stock is owned by company insiders.

Shares of NYSE:BX opened at $130.60 on Wednesday. The firm’s 50 day moving average price is $115.08 and its 200-day moving average price is $95.55. The Blackstone Group Inc. has a twelve month low of $49.26 and a twelve month high of $132.33. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $89.58 billion, a PE ratio of 20.15 and a beta of 1.35.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Wednesday, July 21st. The asset manager reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s quarterly revenue was up 90.3% on a year-over-year basis. Analysts expect that The Blackstone Group Inc. will post 3.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were paid a dividend of $0.8475 per share. This represents a $3.39 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, July 30th. The Blackstone Group’s payout ratio is 105.66%.

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Blackstone Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $135.00 in a report on Wednesday, August 11th. Citigroup upped their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. Argus upped their price objective on shares of The Blackstone Group from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. Zacks Investment Research lowered shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Tuesday. Finally, upped their target price on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 12th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $98.55.

The Blackstone Group Company Profile

The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.

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

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