Polar Capital LLP lessened its stake in Blackstone Group LP (NYSE:BX) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,903 shares of the asset manager’s stock after selling 36,226 shares during the period. Polar Capital LLP’s holdings in Blackstone Group were worth $8,374,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Blackstone Group during the 4th quarter valued at $26,000. Essex Savings Bank bought a new stake in shares of Blackstone Group during the 4th quarter valued at $30,000. MCF Advisors LLC grew its position in shares of Blackstone Group by 200.0% during the 4th quarter. MCF Advisors LLC now owns 1,500 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 1,000 shares during the period. JNBA Financial Advisors lifted its stake in shares of Blackstone Group by 850.0% during the 4th quarter. JNBA Financial Advisors now owns 1,900 shares of the asset manager’s stock valued at $57,000 after buying an additional 1,700 shares in the last quarter. Finally, TCI Wealth Advisors Inc. purchased a new position in shares of Blackstone Group during the 4th quarter valued at $60,000. 50.15% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on BX. Morgan Stanley lowered their target price on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Deutsche Bank lowered their target price on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.54.
Shares of BX stock opened at $34.43 on Friday. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 3.22 and a beta of 1.43. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $40.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04.
Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, January 31st. The asset manager reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The company had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $381.19 million. Blackstone Group had a return on equity of 16.48% and a net margin of 22.56%. The firm’s revenue for the quarter was down 74.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, equities analysts expect that Blackstone Group LP will post 2.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 19th. Shareholders of record on Monday, February 11th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 6.74%. The ex-dividend date was Friday, February 8th. Blackstone Group’s payout ratio is currently 102.65%.
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Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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