RiverPark Advisors LLC lifted its holdings in Blackstone Group LP (NYSE:BX) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 294,711 shares of the asset manager’s stock after buying an additional 22,968 shares during the quarter. Blackstone Group comprises 1.4% of RiverPark Advisors LLC’s portfolio, making the stock its 20th biggest holding. RiverPark Advisors LLC’s holdings in Blackstone Group were worth $9,437,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. York Capital Management Global Advisors LLC bought a new position in shares of Blackstone Group in the fourth quarter worth about $10,922,000. EnTrustPermal Partners Offshore LP bought a new position in shares of Blackstone Group in the fourth quarter worth about $2,702,000. Jefferies Group LLC bought a new position in shares of Blackstone Group in the fourth quarter worth about $2,048,000. Prime Capital Investment Advisors LLC bought a new position in shares of Blackstone Group in the fourth quarter worth about $284,000. Finally, Advisor Group Inc. boosted its stake in shares of Blackstone Group by 17.4% in the fourth quarter. Advisor Group Inc. now owns 157,530 shares of the asset manager’s stock worth $5,044,000 after acquiring an additional 23,388 shares during the period. 48.49% of the stock is owned by hedge funds and other institutional investors.
In other Blackstone Group news, major shareholder Group L.P. Blackstone purchased 25,466 shares of Blackstone Group stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average cost of $28.61 per share, for a total transaction of $728,582.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 800 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $32.00, for a total value of $25,600.00. Following the completion of the sale, the insider now owns 87,852 shares in the company, valued at $2,811,264. The disclosure for this sale can be found here. Over the last quarter, insiders sold 639,763 shares of company stock worth $21,985,486. Company insiders own 1.00% of the company’s stock.
Shares of Blackstone Group LP (NYSE BX) opened at $34.06 on Monday. Blackstone Group LP has a 52-week low of $28.72 and a 52-week high of $37.52. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $22,448.52, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.73 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. equities research analysts predict that Blackstone Group LP will post 3.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 9.98%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 9th. Blackstone Group’s dividend payout ratio is presently 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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