Nottingham Advisors Inc. Invests $229,000 in The Blackstone Group Inc. (NYSE:BX)

Nottingham Advisors Inc. purchased a new position in shares of The Blackstone Group Inc. (NYSE:BX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,357 shares of the asset manager’s stock, valued at approximately $229,000.

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

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded The Blackstone Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $103.00 to $135.00 in a report on Wednesday, August 11th. boosted their price target on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, July 12th. Argus boosted their price objective on shares of The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 23rd. Zacks Investment Research cut 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 research note on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, July 20th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $98.55.

In other news, major shareholder Holdings L.P. Blackstone II sold 335,000 shares of the stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $60.00, for a total value of $20,100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Payne sold 3,693 shares of the 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 disclosure for this sale can be found here. In the last quarter, 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 The Blackstone Group stock traded up $4.29 during trading on Wednesday, reaching $134.89. The company had a trading volume of 162,301 shares, compared to its average volume of 3,329,406. The company has a market cap of $92.53 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35. The firm’s fifty day moving average is $115.08 and its 200-day moving average is $95.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.77 and a current ratio of 0.77. The Blackstone Group Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $132.33.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were paid a dividend of $0.8475 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 annualized dividend and a yield of 2.51%. The Blackstone Group’s dividend payout ratio (DPR) is 105.66%.

About The Blackstone Group

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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