Quadrant Private Wealth Management LLC boosted its stake in Blackstone Group LP (NYSE:BX) by 15.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,211 shares of the asset manager’s stock after buying an additional 711 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Blackstone Group were worth $237,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Howard Wealth Management LLC acquired a new position in shares of Blackstone Group during the 4th quarter worth approximately $27,000. Carmichael Hill & Associates Inc. bought a new stake in shares of Blackstone Group during the 4th quarter worth approximately $28,000. First Bank & Trust bought a new stake in shares of Blackstone Group during the 1st quarter worth approximately $30,000. OmniStar Financial Group Inc. bought a new stake in shares of Blackstone Group during the 1st quarter worth approximately $30,000. Finally, Bartlett & Co. LLC bought a new stake in shares of Blackstone Group during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 56.50% of the company’s stock.
NYSE:BX traded down $0.12 during trading hours on Friday, reaching $53.49. The company had a trading volume of 426,801 shares, compared to its average volume of 4,874,527. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.97. The firm has a market cap of $35.91 billion, a price-to-earnings ratio of 73.07, a P/E/G ratio of 13.53 and a beta of 1.45. The business’s 50-day simple moving average is $49.08 and its two-hundred day simple moving average is $53.46. Blackstone Group LP has a twelve month low of $33.00 and a twelve month high of $64.97.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.31 billion. Blackstone Group had a return on equity of 14.62% and a net margin of 27.93%. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts predict that Blackstone Group LP will post 2.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, May 1st. Blackstone Group’s dividend payout ratio (DPR) is 67.53%.
In other Blackstone Group news, major shareholder Blackstone Group Inc acquired 333,965 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $26.02 per share, with a total value of $8,689,769.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 50,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $53.11, for a total transaction of $2,655,500.00. Following the completion of the transaction, the insider now directly owns 218,663 shares in the company, valued at $11,613,191.93. The disclosure for this sale can be found here. Insiders acquired 1,665,085 shares of company stock worth $41,383,583 over the last ninety days. Insiders own 1.00% of the company’s stock.
Several brokerages recently commented on BX. Barclays reissued a “buy” rating and issued a $70.00 price objective on shares of Blackstone Group in a research note on Sunday, February 2nd. William Blair reaffirmed a “buy” rating on shares of Blackstone Group in a research note on Friday, April 24th. TheStreet downgraded shares of Blackstone Group from a “b-” rating to a “c” rating in a research note on Thursday, April 23rd. Credit Suisse Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Blackstone Group in a research note on Sunday, February 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $53.00 price objective on shares of Blackstone Group in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Blackstone Group presently has an average rating of “Buy” and a consensus target price of $58.35.
Blackstone Group Company 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, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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