Davis R M Inc. reduced its stake in shares of Blackstone Group LP (NYSE:BX) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,300 shares of the asset manager’s stock after selling 1,000 shares during the quarter. Davis R M Inc.’s holdings in Blackstone Group were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in BX. Bank of Montreal Can grew its holdings in Blackstone Group by 49.9% during the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock valued at $738,740,000 after buying an additional 7,030,805 shares in the last quarter. Ellis Investment Partners LLC boosted its position in shares of Blackstone Group by 3,640.1% during the 1st quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after acquiring an additional 2,793,303 shares during the last quarter. Vantage Investment Partners LLC boosted its position in shares of Blackstone Group by 151.7% during the 4th quarter. Vantage Investment Partners LLC now owns 2,302,246 shares of the asset manager’s stock valued at $68,630,000 after acquiring an additional 1,387,663 shares during the last quarter. Fairview Capital Investment Management LLC boosted its position in shares of Blackstone Group by 29.1% during the 4th quarter. Fairview Capital Investment Management LLC now owns 3,751,400 shares of the asset manager’s stock valued at $111,829,000 after acquiring an additional 844,750 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Blackstone Group during the 3rd quarter valued at approximately $17,889,000. 51.33% of the stock is owned by institutional investors and hedge funds.
In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III bought 120,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $24.22 per share, for a total transaction of $2,906,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bennett J. Goodman sold 115,000 shares of Blackstone Group stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $39.58, for a total value of $4,551,700.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at $9,895,000. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,254,188 shares of company stock valued at $30,201,534. 1.00% of the stock is owned by corporate insiders.
A number of research firms have recently commented on BX. Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 3rd. Morgan Stanley increased their target price on Blackstone Group from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call. Finally, ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.29.
BX traded down $0.10 during trading on Wednesday, reaching $41.70. The company had a trading volume of 3,985,900 shares, compared to its average volume of 3,743,998. The company has a market cap of $27.37 billion, a PE ratio of 18.45, a P/E/G ratio of 4.33 and a beta of 1.47. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $42.12. The company has a quick ratio of 1.04, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.48 billion. Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, research analysts anticipate that Blackstone Group LP will post 2.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $1.48 dividend on an annualized basis and a yield of 3.55%. Blackstone Group’s dividend payout ratio is presently 65.49%.
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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