Gofen & Glossberg LLC IL lifted its holdings in Blackstone Group LP (NYSE:BX) by 140.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,300 shares of the asset manager’s stock after purchasing an additional 11,850 shares during the period. Gofen & Glossberg LLC IL’s holdings in Blackstone Group were worth $650,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Honeywell International Inc. boosted its holdings in Blackstone Group by 37.0% during the third quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock valued at $34,017,000 after purchasing an additional 275,400 shares in the last quarter. Sandy Spring Bank boosted its holdings in Blackstone Group by 93.4% during the third quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock valued at $487,000 after purchasing an additional 7,050 shares in the last quarter. Hilton Capital Management LLC acquired a new position in shares of Blackstone Group in the 3rd quarter worth approximately $416,000. Neuberger Berman Group LLC boosted its holdings in shares of Blackstone Group by 135.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after acquiring an additional 1,117,412 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Blackstone Group by 27.5% in the 3rd quarter. Bessemer Group Inc. now owns 15,050 shares of the asset manager’s stock worth $502,000 after acquiring an additional 3,250 shares in the last quarter. Institutional investors and hedge funds own 48.08% of the company’s stock.
Several brokerages have recently commented on BX. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 target price on shares of Blackstone Group in a report on Thursday, February 1st. Vetr downgraded Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price objective on the stock. in a report on Monday, December 4th. Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. JPMorgan Chase & Co. downgraded Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America upped their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.90.
Blackstone Group LP (BX) traded down $0.86 during mid-day trading on Friday, reaching $32.95. The company’s stock had a trading volume of 11,010,000 shares, compared to its average volume of 6,010,000. Blackstone Group LP has a 52-week low of $28.45 and a 52-week high of $37.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $39,570.00, a PE ratio of 15.11, a PEG ratio of 1.18 and a beta of 1.34.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business posted $0.68 EPS. The company’s quarterly revenue was up 19.9% on a year-over-year basis. equities analysts expect that Blackstone Group LP will post 3.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 10.32%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 9th. Blackstone Group’s dividend payout ratio is currently 80.73%.
In other Blackstone Group news, insider John G. Finley sold 800 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the transaction, the insider now directly owns 87,852 shares of the company’s stock, valued at approximately $2,811,264. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 20,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the completion of the transaction, the insider now directly owns 87,852 shares in the company, valued at $2,779,637.28. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
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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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