Means Investment CO. Inc. lifted its position in shares of The Blackstone Group Inc. (NYSE:BX) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,035 shares of the asset manager’s stock after purchasing an additional 274 shares during the quarter. Means Investment CO. Inc.’s holdings in The Blackstone Group were worth $1,866,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Private Wealth LLC bought a new stake in The Blackstone Group in the third quarter worth $26,000. Charter Oak Capital Management LLC bought a new stake in The Blackstone Group in the fourth quarter worth $26,000. Valley Brook Capital Group bought a new stake in The Blackstone Group in the fourth quarter worth $34,000. Oder Investment Management LLC purchased a new position in shares of The Blackstone Group in the fourth quarter worth $37,000. Finally, ShoreHaven Wealth Partners LLC purchased a new position in shares of The Blackstone Group in the fourth quarter worth $39,000. Institutional investors own 59.77% of the company’s stock.
A number of research firms recently commented on BX. Oppenheimer reiterated a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Piper Sandler began coverage on The Blackstone Group in a research report on Thursday, January 14th. They set an “overweight” rating and a $71.00 price objective for the company. Barclays upped their price objective on The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Zacks Investment Research cut The Blackstone Group from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research report on Tuesday, March 16th. Finally, Morgan Stanley upped their price target on The Blackstone Group from $84.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The Blackstone Group has a consensus rating of “Buy” and a consensus price target of $68.96.
The Blackstone Group stock traded up $0.85 during midday trading on Thursday, reaching $76.08. 29,446 shares of the stock traded hands, compared to its average volume of 2,815,032. The stock’s fifty day moving average is $71.82 and its 200-day moving average is $63.18. The Blackstone Group Inc. has a 12 month low of $45.05 and a 12 month high of $76.25. The stock has a market cap of $52.03 billion, a P/E ratio of 70.31 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Tuesday, January 26th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 73.5% on a year-over-year basis. On average, equities analysts predict that The Blackstone Group Inc. will post 2.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Monday, February 8th were given a dividend of $0.7175 per share. The ex-dividend date was Friday, February 5th. This is an increase from The Blackstone Group’s previous quarterly dividend of $0.54. This represents a $2.87 dividend on an annualized basis and a yield of 3.77%. The Blackstone Group’s dividend payout ratio is 166.23%.
The Blackstone Group Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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