HMI Capital LLC raised its stake in shares of Blackstone Group LP (NYSE:BX) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,652,707 shares of the asset manager’s stock after purchasing an additional 509,707 shares during the period. Blackstone Group accounts for 9.8% of HMI Capital LLC’s portfolio, making the stock its 7th largest holding. HMI Capital LLC’s holdings in Blackstone Group were worth $84,940,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Oak Grove Capital LLC acquired a new stake in shares of Blackstone Group in the fourth quarter worth $1,548,000. Grand Jean Capital Management Inc. grew its stake in shares of Blackstone Group by 3.8% in the fourth quarter. Grand Jean Capital Management Inc. now owns 362,245 shares of the asset manager’s stock worth $11,599,000 after acquiring an additional 13,175 shares during the last quarter. JRM Investment Counsel LLC grew its stake in shares of Blackstone Group by 28.4% in the fourth quarter. JRM Investment Counsel LLC now owns 217,956 shares of the asset manager’s stock worth $6,979,000 after acquiring an additional 48,209 shares during the last quarter. Allen Capital Group LLC acquired a new stake in shares of Blackstone Group in the fourth quarter worth $2,263,000. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of Blackstone Group by 43.7% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 22,577 shares of the asset manager’s stock worth $723,000 after acquiring an additional 6,865 shares during the last quarter. Institutional investors own 45.83% of the company’s stock.
BX has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a research note on Thursday, February 1st. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price objective on the stock. in a research note on Monday, November 20th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price objective on shares of Blackstone Group in a research note on Thursday, January 11th. JPMorgan Chase & Co. downgraded shares of Blackstone Group from an “overweight” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Zacks Investment Research downgraded shares of Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Two 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 an average rating of “Hold” and a consensus price target of $39.90.
Blackstone Group LP (NYSE BX) opened at $34.26 on Monday. The company has a market capitalization of $22,910.80, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.16 and a beta of 1.31. Blackstone Group LP has a 12-month low of $28.45 and a 12-month high of $37.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.
Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, February 1st. The asset manager reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion during 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%. Blackstone Group’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. analysts predict that Blackstone Group LP will post 3.1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Monday, February 12th were given a $0.85 dividend. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 annualized dividend and a yield of 9.92%. The ex-dividend date of this dividend was Friday, February 9th. Blackstone Group’s dividend payout ratio (DPR) is 155.96%.
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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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