Blackstone Group LP (NYSE:BX) major shareholder Lifesciences Iii L.P. Clarus bought 200,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of $17.00 per share, with a total value of $3,400,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
BX stock opened at $53.28 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50-day moving average price of $55.78 and a 200 day moving average price of $54.19. The company has a market capitalization of $35.69 billion, a P/E ratio of 48.88, a PEG ratio of 13.89 and a beta of 1.44. Blackstone Group LP has a 1-year low of $33.00 and a 1-year high of $64.97.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $0.43 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $1.16 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 14.05%. The firm’s revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. On average, analysts anticipate that Blackstone Group LP will post 2.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a $0.37 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.78%. Blackstone Group’s dividend payout ratio is presently 67.53%.
A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in Blackstone Group by 69.4% in the first quarter. Wellington Management Group LLP now owns 26,841,950 shares of the asset manager’s stock worth $1,223,190,000 after purchasing an additional 10,996,707 shares in the last quarter. BlackRock Inc. raised its holdings in Blackstone Group by 8.3% in the first quarter. BlackRock Inc. now owns 19,220,238 shares of the asset manager’s stock worth $875,864,000 after purchasing an additional 1,468,185 shares in the last quarter. Morgan Stanley raised its holdings in Blackstone Group by 2.4% in the first quarter. Morgan Stanley now owns 18,310,670 shares of the asset manager’s stock worth $834,417,000 after purchasing an additional 437,363 shares in the last quarter. Capital International Investors raised its holdings in Blackstone Group by 16.2% in the first quarter. Capital International Investors now owns 15,799,469 shares of the asset manager’s stock worth $719,982,000 after purchasing an additional 2,199,153 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Blackstone Group by 202.2% in the first quarter. Bessemer Group Inc. now owns 7,453,381 shares of the asset manager’s stock worth $339,652,000 after purchasing an additional 4,986,613 shares in the last quarter. Institutional investors and hedge funds own 56.66% of the company’s stock.
Several research firms have recently weighed in on BX. Wells Fargo & Co lifted their target price on Blackstone Group from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Credit Suisse Group lifted their target price on Blackstone Group from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Citigroup downgraded Blackstone Group from a “buy” rating to a “neutral” rating in a research report on Monday, June 8th. Bank of America decreased their target price on Blackstone Group from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Finally, UBS Group decreased their target price on Blackstone Group from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $60.95.
About Blackstone Group
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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