Blackstone Group LP (NYSE:BX) Major Shareholder Blackstone Group Inc Acquires 100,000 Shares of Stock

Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc bought 100,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $8.37 per share, for a total transaction of $837,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Monday, August 19th, Blackstone Group Inc bought 77,743 shares of Blackstone Group stock. The stock was bought at an average cost of $7.80 per share, for a total transaction of $606,395.40.
  • On Friday, August 16th, Blackstone Group Inc bought 46,500 shares of Blackstone Group stock. The stock was bought at an average cost of $7.98 per share, for a total transaction of $371,070.00.
  • On Wednesday, August 14th, Blackstone Group Inc bought 79,368 shares of Blackstone Group stock. The stock was bought at an average cost of $7.07 per share, for a total transaction of $561,131.76.
  • On Monday, August 12th, Blackstone Group Inc bought 100,000 shares of Blackstone Group stock. The stock was bought at an average cost of $7.94 per share, for a total transaction of $794,000.00.
  • On Friday, August 9th, Blackstone Group Inc bought 64,708 shares of Blackstone Group stock. The stock was bought at an average cost of $7.82 per share, for a total transaction of $506,016.56.

Shares of NYSE:BX traded up $0.47 during midday trading on Thursday, reaching $49.93. 1,337,856 shares of the company’s stock traded hands, compared to its average volume of 6,365,715. The company has a market cap of $32.80 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. Blackstone Group LP has a one year low of $26.88 and a one year high of $50.02. The stock has a 50 day moving average of $47.07 and a 200 day moving average of $40.09.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a return on equity of 11.30% and a net margin of 20.51%. The company’s quarterly revenue was down 43.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Sell-side analysts predict that Blackstone Group LP will post 2.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, July 26th. Blackstone Group’s payout ratio is currently 84.96%.

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Barclays assumed coverage on Blackstone Group in a report on Monday, August 5th. They issued an “overweight” rating and a $56.00 target price on the stock. Deutsche Bank boosted their target price on Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. JMP Securities downgraded Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Finally, Oppenheimer set a $52.00 target price on Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Blackstone Group currently has a consensus rating of “Buy” and an average target price of $48.10.

Large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its holdings in shares of Blackstone Group by 43.5% during the first quarter. Belpointe Asset Management LLC now owns 31,832 shares of the asset manager’s stock valued at $1,113,000 after purchasing an additional 9,645 shares in the last quarter. Hollencrest Capital Management increased its position in Blackstone Group by 5.2% during the first quarter. Hollencrest Capital Management now owns 62,978 shares of the asset manager’s stock valued at $2,203,000 after acquiring an additional 3,096 shares during the last quarter. National Asset Management Inc. increased its position in Blackstone Group by 15.7% during the first quarter. National Asset Management Inc. now owns 27,818 shares of the asset manager’s stock valued at $973,000 after acquiring an additional 3,775 shares during the last quarter. Meitav Dash Investments Ltd. purchased a new stake in Blackstone Group during the first quarter valued at $738,000. Finally, B. Riley Wealth Management Inc. increased its position in Blackstone Group by 13.3% during the first quarter. B. Riley Wealth Management Inc. now owns 15,628 shares of the asset manager’s stock valued at $547,000 after acquiring an additional 1,840 shares during the last quarter. 45.05% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

See Also: Moving Average (MA)

Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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