Capital Analysts LLC bought a new stake in Blackstone Group LP (NYSE:BX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 29,831 shares of the asset manager’s stock, valued at approximately $3,485,000.
Other large investors have also recently modified their holdings of the company. Honeywell International Inc. raised its holdings in Blackstone Group by 37.0% in the third quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock valued at $34,017,000 after acquiring an additional 275,400 shares in the last quarter. Sandy Spring Bank raised its holdings in Blackstone Group by 93.4% in the third quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock valued at $487,000 after acquiring an additional 7,050 shares in the last quarter. Syntal Capital Partners LLC raised its holdings in Blackstone Group by 207.7% in the fourth quarter. Syntal Capital Partners LLC now owns 29,102 shares of the asset manager’s stock valued at $931,000 after acquiring an additional 19,645 shares in the last quarter. Hilton Capital Management LLC acquired a new stake in Blackstone Group in the third quarter valued at approximately $416,000. Finally, BLB&B Advisors LLC acquired a new stake in Blackstone Group in the fourth quarter valued at approximately $289,000. 45.83% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. JPMorgan Chase & Co. cut shares of Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price objective on shares of Blackstone Group in a report on Thursday, February 1st. Credit Suisse Group reissued a “buy” rating and set a $47.00 price objective on shares of Blackstone Group in a report on Thursday, January 11th. Finally, Vetr cut shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price objective on the stock. in a report on Wednesday, January 10th. Two research 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. Blackstone Group currently has an average rating of “Hold” and an average target price of $39.90.
In other Blackstone Group news, major shareholder Group L.P. Blackstone bought 25,466 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average cost of $28.61 per share, with a total value of $728,582.26. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman J Tomilson Hill sold 100,000 shares of Blackstone Group stock in a transaction on 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 transaction, the insider now directly owns 1,410,304 shares in the company, valued at $48,768,312.32. The disclosure for this sale can be found here. Insiders sold a total of 348,436 shares of company stock worth $11,981,224 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Shares of Blackstone Group LP (NYSE:BX) opened at $34.02 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a 1-year low of $28.45 and a 1-year high of $37.52. The firm has a market cap of $22,763.69, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.34.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. sell-side analysts expect that Blackstone Group LP will post 3.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.99%. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 9th. Blackstone Group’s payout ratio is presently 155.96%.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/02/23/29831-shares-in-blackstone-group-lp-bx-acquired-by-capital-analysts-llc.html.
Blackstone Group Profile
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.
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (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.