Enlightenment Research LLC acquired a new stake in shares of The Blackstone Group Inc. (NYSE:BX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,800 shares of the asset manager’s stock, valued at approximately $209,000.
A number of other large investors have also recently made changes to their positions in BX. Charter Oak Capital Management LLC bought a new position in The Blackstone Group during the 4th quarter valued at $26,000. Atlas Private Wealth Advisors acquired a new stake in shares of The Blackstone Group in the first quarter valued at $30,000. Mascoma Wealth Management LLC bought a new position in The Blackstone Group during the first quarter valued at about $31,000. Valley Brook Capital Group acquired a new position in The Blackstone Group during the fourth quarter worth about $34,000. Finally, Oder Investment Management LLC acquired a new position in The Blackstone Group during the fourth quarter worth about $37,000. 60.72% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Barclays boosted their price objective on The Blackstone Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Morgan Stanley raised their target price on shares of The Blackstone Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, April 23rd. Argus boosted their price target on shares of The Blackstone Group from $82.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of The Blackstone Group from $66.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, April 23rd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $78.09.
The Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.24. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.65 billion. The Blackstone Group had a net margin of 26.66% and a return on equity of 15.52%. During the same quarter in the previous year, the business earned $0.46 EPS. As a group, research analysts expect that The Blackstone Group Inc. will post 3.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 10th. Shareholders of record on Monday, May 3rd were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, April 30th. The Blackstone Group’s dividend payout ratio (DPR) is currently 123.77%.
In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $37.00, for a total value of $87,713,384.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 36,000 shares of The Blackstone Group stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $90.57, for a total value of $3,260,520.00. Following the sale, the insider now directly owns 327,489 shares in the company, valued at $29,660,678.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,047,577 shares of company stock valued at $147,529,685. Corporate insiders own 1.00% of the company’s stock.
About The 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, 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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