Blackstone Group LP (NYSE:BX) Major Shareholder Buys $506,016.56 in Stock

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Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc bought 64,708 shares of Blackstone Group stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $7.82 per share, with a total value of $506,016.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares 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 stock was acquired at an average cost of $7.07 per share, with a total value of $561,131.76.
  • On Monday, August 12th, Blackstone Group Inc bought 100,000 shares of Blackstone Group stock. The stock was acquired at an average cost of $7.94 per share, with a total value of $794,000.00.

BX opened at $45.72 on Friday. Blackstone Group LP has a twelve month low of $26.88 and a twelve month high of $49.81. The company has a 50-day simple moving average of $46.74 and a 200 day simple moving average of $39.79. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.04 and a beta of 1.47.

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

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.48 dividend. 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 (DPR) is currently 84.96%.

BX has been the subject of a number of recent research reports. JMP Securities cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Barclays started coverage on shares of Blackstone Group in a research report on Monday, August 5th. They set an “overweight” rating and a $56.00 price objective for the company. 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. ValuEngine raised shares of Blackstone Group from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.10.

Several hedge funds have recently bought and sold shares of BX. Janus Henderson Group PLC lifted its holdings in shares of Blackstone Group by 127.5% in the second quarter. Janus Henderson Group PLC now owns 16,212,003 shares of the asset manager’s stock worth $720,137,000 after acquiring an additional 9,085,152 shares during the last quarter. Bank of Montreal Can grew its holdings in Blackstone Group by 49.9% during the 1st quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock valued at $738,740,000 after buying an additional 7,030,805 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Blackstone Group during the 2nd quarter valued at about $234,576,000. Ellis Investment Partners LLC boosted its position in shares of Blackstone Group by 3,640.1% during the 1st quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after acquiring an additional 2,793,303 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its position in shares of Blackstone Group by 92.0% during the 2nd quarter. Artemis Investment Management LLP now owns 2,050,040 shares of the asset manager’s stock valued at $90,868,000 after acquiring an additional 982,153 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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