Blackstone Group LP (NYSE:BX) Vice Chairman J Tomilson Hill sold 100,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $34.58, for a total transaction of $3,458,000.00. Following the completion of the sale, the insider now owns 1,410,304 shares in the company, valued at $48,768,312.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
J Tomilson Hill also recently made the following trade(s):
- On Wednesday, February 21st, J Tomilson Hill sold 227,636 shares of Blackstone Group stock. The shares were sold at an average price of $34.55, for a total transaction of $7,864,823.80.
Shares of Blackstone Group LP (NYSE:BX) traded down $0.24 during trading hours on Thursday, reaching $33.80. 627,087 shares of the company’s stock were exchanged, compared to its average volume of 6,274,067. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $40,870.00, a price-to-earnings ratio of 15.50, a PEG ratio of 1.16 and a beta of 1.34. Blackstone Group LP has a one year low of $28.45 and a one year high of $37.52.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. equities analysts forecast that Blackstone Group LP will post 3.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, February 9th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 dividend on an annualized basis and a yield of 10.06%. Blackstone Group’s dividend payout ratio is 155.96%.
A number of large investors have recently modified their holdings of BX. Wealthcare Advisory Partners LLC acquired a new position in shares of Blackstone Group during the third quarter worth about $131,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Blackstone Group during the fourth quarter worth about $160,000. James Hambro & Partners acquired a new position in shares of Blackstone Group during the fourth quarter worth about $183,000. Jacobi Capital Management LLC grew its position in shares of Blackstone Group by 65.6% during the third quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock worth $192,000 after buying an additional 2,287 shares in the last quarter. Finally, Strategic Financial Group LLC acquired a new position in shares of Blackstone Group during the third quarter worth about $200,000. Institutional investors own 45.83% of the company’s stock.
Several brokerages recently issued reports on BX. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Blackstone Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $34.53 to $46.00 in a report on Friday, January 12th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price objective on shares of Blackstone Group in a report on Thursday, January 11th. Vetr lowered shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price target on the stock. in a research note on Wednesday, January 10th. Finally, Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $39.90.
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About Blackstone Group
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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