Cetera Advisor Networks LLC raised its stake in Blackstone Group LP (NYSE:BX) by 92.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,460 shares of the asset manager’s stock after acquiring an additional 32,915 shares during the period. Cetera Advisor Networks LLC’s holdings in Blackstone Group were worth $2,194,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in shares of Blackstone Group by 77.0% during the fourth quarter. Bank of Montreal Can now owns 22,232,729 shares of the asset manager’s stock worth $711,892,000 after purchasing an additional 9,669,716 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in shares of Blackstone Group by 2,189.3% during the third quarter. Atlantic Trust Group LLC now owns 1,911,552 shares of the asset manager’s stock worth $63,787,000 after purchasing an additional 1,828,052 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Blackstone Group by 135.5% during the third quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after purchasing an additional 1,117,412 shares during the last quarter. Swedbank grew its holdings in shares of Blackstone Group by 14.6% during the third quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock worth $181,303,000 after purchasing an additional 693,200 shares during the last quarter. Finally, Chilton Investment Co. LLC bought a new stake in shares of Blackstone Group during the fourth quarter worth $13,960,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.
BX has been the topic of several research analyst reports. Oppenheimer restated a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Bank of America increased their target price on Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Morgan Stanley increased their target price on Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, October 23rd. Vetr cut Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a report on Monday, November 20th. Finally, Credit Suisse Group restated a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.90.
In related news, insider John G. Finley sold 800 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $32.00, for a total value of $25,600.00. Following the transaction, the insider now owns 87,852 shares in the company, valued at $2,811,264. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Group L.P. Blackstone purchased 228,535 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was purchased at an average price of $29.63 per share, for a total transaction of $6,771,492.05. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
Blackstone Group LP (NYSE BX) opened at $33.78 on Thursday. The stock has a market capitalization of $22,436.01, a PE ratio of 15.50, a P/E/G ratio of 1.14 and a beta of 1.34. Blackstone Group LP has a 1-year low of $28.45 and a 1-year high of $37.52. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. equities analysts forecast that Blackstone Group LP will post 3.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 12th will be issued a $0.85 dividend. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 9th. This represents a $3.40 annualized dividend and a yield of 10.07%. Blackstone Group’s dividend payout ratio (DPR) is currently 155.96%.
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Blackstone Group Company Profile
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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