Eaton Vance Management lessened its holdings in shares of Blackstone Group LP (NYSE:BX) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,684 shares of the asset manager’s stock after selling 9,125 shares during the period. Eaton Vance Management’s holdings in Blackstone Group were worth $9,436,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Allen Capital Group LLC purchased a new position in Blackstone Group during the 4th quarter valued at about $2,263,000. Sheaff Brock Investment Advisors LLC increased its holdings in Blackstone Group by 43.7% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 22,577 shares of the asset manager’s stock valued at $723,000 after purchasing an additional 6,865 shares during the period. Capital Analysts LLC purchased a new position in Blackstone Group during the 4th quarter valued at about $3,485,000. Brown Advisory Inc. increased its holdings in Blackstone Group by 3.0% during the 4th quarter. Brown Advisory Inc. now owns 860,410 shares of the asset manager’s stock valued at $27,551,000 after purchasing an additional 25,445 shares during the period. Finally, Mutual Advisors LLC purchased a new position in Blackstone Group during the 4th quarter valued at about $201,000. Institutional investors own 45.83% of the company’s stock.
Blackstone Group LP (NYSE:BX) opened at $34.00 on Thursday. Blackstone Group LP has a twelve month low of $28.45 and a twelve month high of $37.52. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $22,870.68, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th were issued a dividend of $0.85 per share. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 10.00%. Blackstone Group’s dividend payout ratio is 155.96%.
In related news, major shareholder Group L.P. Blackstone purchased 25,466 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average cost of $28.61 per share, with a total value of $728,582.26. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $34.15, for a total value of $751,300.00. Following the completion of the sale, the insider now directly owns 133,003 shares in the company, valued at $4,542,052.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 639,763 shares of company stock worth $21,985,486. Insiders own 1.00% of the company’s stock.
BX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price target 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 target price on the stock. in a report on Monday, November 20th. Credit Suisse Group reiterated a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a report on Thursday, January 11th. JPMorgan Chase & Co. downgraded Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.90.
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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