Financial Advocates Investment Management acquired a new position in shares of Blackstone Group LP (NYSE:BX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,092 shares of the asset manager’s stock, valued at approximately $1,220,000.
Other large investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC bought a new position in shares of Blackstone Group in the third quarter worth approximately $131,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Blackstone Group in the fourth quarter worth approximately $160,000. James Hambro & Partners bought a new position in shares of Blackstone Group in the fourth quarter worth approximately $183,000. New England Private Wealth Advisors LLC bought a new position in shares of Blackstone Group in the third quarter worth approximately $200,000. Finally, Mutual Advisors LLC bought a new position in shares of Blackstone Group in the fourth quarter worth approximately $201,000. 48.49% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman J Tomilson Hill sold 227,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $34.55, for a total transaction of $7,864,823.80. Following the completion of the transaction, the insider now directly owns 1,410,304 shares of the company’s stock, valued at $48,726,003.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $34.15, for a total transaction of $751,300.00. Following the sale, the insider now directly owns 133,003 shares of the company’s stock, valued at $4,542,052.45. The disclosure for this sale can be found here. Insiders have sold 672,000 shares of company stock valued at $23,130,874 over the last three months. 1.00% of the stock is owned by corporate insiders.
BX has been the topic of several analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a research note on Thursday, January 11th. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a research note on Monday, December 4th. Zacks Investment Research downgraded shares of Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. ValuEngine upgraded shares of Blackstone Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Blackstone Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $34.53 to $46.00 in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.90.
Blackstone Group LP (NYSE:BX) opened at $33.79 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. Blackstone Group LP has a twelve month low of $28.85 and a twelve month high of $37.52. The firm has a market cap of $22,198.07, a P/E ratio of 15.50, a PEG ratio of 1.14 and a beta of 1.33.
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, beating the consensus estimate of $0.67 by $0.04. Blackstone Group had a net margin of 20.66% and a return on equity of 22.27%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. analysts anticipate that Blackstone Group LP will post 3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 10.06%. 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%.
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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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