Blackstone Group LP (NYSE:BX) Major Shareholder Buys $794,000.00 in Stock

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Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $7.94 per share, with a total value of $794,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Wednesday, August 14th, Blackstone Group Inc bought 79,368 shares of Blackstone Group stock. The shares were acquired at an average price of $7.07 per share, with a total value of $561,131.76.
  • On Friday, August 9th, Blackstone Group Inc acquired 64,708 shares of Blackstone Group stock. The stock was purchased at an average price of $7.82 per share, with a total value of $506,016.56.

Shares of Blackstone Group stock opened at $45.72 on Friday. The firm has a 50-day simple moving average of $46.74 and a two-hundred day simple moving average of $39.79. The company has a market cap of $31.52 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.04 and a beta of 1.47. Blackstone Group LP has a fifty-two week low of $26.88 and a fifty-two week high of $49.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.98 and a current ratio of 0.89.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The company’s revenue was down 43.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts forecast that Blackstone Group LP will post 2.32 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.20%. Blackstone Group’s dividend payout ratio is currently 84.96%.

A number of brokerages have weighed in on BX. JMP Securities downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Deutsche Bank upped their price objective on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays began coverage on shares of Blackstone Group in a research report on Monday, August 5th. They issued an “overweight” rating and a $56.00 price objective for the company. Morgan Stanley upped their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Oppenheimer set a $52.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.10.

Hedge funds have recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas increased its stake in shares of Blackstone Group by 3.3% during the first quarter. Community Bank & Trust Waco Texas now owns 86,842 shares of the asset manager’s stock worth $3,037,000 after purchasing an additional 2,739 shares in the last quarter. Belpointe Asset Management LLC increased its stake in shares of Blackstone Group by 43.5% during the first quarter. Belpointe Asset Management LLC now owns 31,832 shares of the asset manager’s stock worth $1,113,000 after purchasing an additional 9,645 shares in the last quarter. Hollencrest Capital Management increased its stake in shares of Blackstone Group by 5.2% during the first quarter. Hollencrest Capital Management now owns 62,978 shares of the asset manager’s stock worth $2,203,000 after purchasing an additional 3,096 shares in the last quarter. National Asset Management Inc. increased its stake in shares of Blackstone Group by 15.7% during the first quarter. National Asset Management Inc. now owns 27,818 shares of the asset manager’s stock worth $973,000 after purchasing an additional 3,775 shares in the last quarter. Finally, Meitav Dash Investments Ltd. purchased a new stake in shares of Blackstone Group during the first quarter worth about $738,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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