Cambridge Investment Research Advisors Inc. decreased its holdings in shares of The Blackstone Group Inc. (NYSE:BX) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,150 shares of the asset manager’s stock after selling 10,847 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in The Blackstone Group were worth $31,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Nicholas Hoffman & Company LLC. bought a new stake in The Blackstone Group during the 2nd quarter valued at $200,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in The Blackstone Group during the 2nd quarter valued at $210,000. Toronto Dominion Bank raised its holdings in The Blackstone Group by 5.9% during the 2nd quarter. Toronto Dominion Bank now owns 96,646 shares of the asset manager’s stock valued at $9,388,000 after acquiring an additional 5,415 shares during the period. First Bank & Trust raised its holdings in The Blackstone Group by 9.0% during the 2nd quarter. First Bank & Trust now owns 1,217 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 100 shares during the period. Finally, Avantax Planning Partners Inc. raised its holdings in The Blackstone Group by 4.6% during the 2nd quarter. Avantax Planning Partners Inc. now owns 4,049 shares of the asset manager’s stock valued at $393,000 after acquiring an additional 177 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Joseph Baratta sold 669 shares of the company’s stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $98.93, for a total transaction of $66,184.17. Following the completion of the transaction, the director now directly owns 1,283,592 shares of the company’s stock, valued at $126,985,756.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lifesciences Iii L.P. Clarus purchased 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 20th. The stock was bought at an average cost of $16.00 per share, with a total value of $2,400,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 508,477 shares of company stock valued at $40,210,412. Company insiders own 1.00% of the company’s stock.
NYSE BX opened at $130.60 on Wednesday. The company has a 50-day simple moving average of $115.08 and a two-hundred day simple moving average of $95.55. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31. The Blackstone Group Inc. has a 12-month low of $49.26 and a 12-month high of $132.33. The firm has a market cap of $89.58 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35.
The Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, July 21st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 90.3% on a year-over-year basis. Equities analysts expect that The Blackstone Group Inc. will post 3.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were given a dividend of $0.8475 per share. The ex-dividend date was Friday, July 30th. This represents a $3.39 annualized dividend and a yield of 2.60%. The Blackstone Group’s payout ratio is 105.66%.
About The Blackstone Group
The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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