Meitav Dash Investments Ltd. purchased a new stake in shares of Blackstone Group LP (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 21,100 shares of the asset manager’s stock, valued at approximately $673,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Addison Capital Co raised its position in shares of Blackstone Group by 23.8% during the 4th quarter. Addison Capital Co now owns 7,645 shares of the asset manager’s stock valued at $245,000 after buying an additional 1,470 shares during the period. Wasatch Advisors Inc. raised its position in shares of Blackstone Group by 1.4% during the 4th quarter. Wasatch Advisors Inc. now owns 109,112 shares of the asset manager’s stock valued at $3,494,000 after buying an additional 1,500 shares during the period. Perkins Capital Management Inc. raised its position in shares of Blackstone Group by 5.3% during the 4th quarter. Perkins Capital Management Inc. now owns 29,650 shares of the asset manager’s stock valued at $949,000 after buying an additional 1,500 shares during the period. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Blackstone Group by 8.1% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 20,974 shares of the asset manager’s stock valued at $697,000 after buying an additional 1,577 shares during the period. Finally, Independent Advisor Alliance raised its position in shares of Blackstone Group by 3.6% during the 3rd quarter. Independent Advisor Alliance now owns 47,727 shares of the asset manager’s stock valued at $1,587,000 after buying an additional 1,662 shares during the period. 48.37% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Group L.P. Blackstone acquired 228,535 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were acquired at an average price of $29.63 per share, with a total value of $6,771,492.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman J Tomilson Hill sold 227,636 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $34.55, for a total value of $7,864,823.80. Following the sale, the insider now directly owns 1,410,304 shares in the company, valued at approximately $48,726,003.20. The disclosure for this sale can be found here. Insiders have sold 672,000 shares of company stock worth $23,130,874 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Shares of Blackstone Group stock opened at $33.27 on Thursday. The stock has a market capitalization of $22,006.93, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.19 and a quick ratio of 1.19. Blackstone Group LP has a 12-month low of $28.85 and a 12-month high of $37.52.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. equities research analysts expect that Blackstone Group LP will post 3.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were given a dividend of $0.85 per share. The ex-dividend date was Friday, February 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 10.22%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio is currently 155.96%.
Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 price target on shares of Blackstone Group in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised Blackstone Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Credit Suisse Group reissued a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a research report on Thursday, January 11th. Vetr lowered Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 target price on the stock. in a research report on Wednesday, January 10th. Finally, ValuEngine raised Blackstone Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Blackstone Group currently has an average rating of “Buy” and a consensus target price of $39.90.
Blackstone Group 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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