Riverpark Capital Management LLC cut its stake in Blackstone Group LP (NYSE:BX) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 903,921 shares of the asset manager’s stock after selling 165,056 shares during the quarter. Blackstone Group comprises approximately 4.2% of Riverpark Capital Management LLC’s holdings, making the stock its 3rd largest holding. Riverpark Capital Management LLC owned approximately 0.14% of Blackstone Group worth $28,944,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of BX. Bank of Montreal Can lifted its position in Blackstone Group by 77.0% in the fourth quarter. Bank of Montreal Can now owns 22,232,729 shares of the asset manager’s stock worth $711,892,000 after buying an additional 9,669,716 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Blackstone Group by 165.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,535,792 shares of the asset manager’s stock worth $113,216,000 after buying an additional 2,202,719 shares during the last quarter. Atlantic Trust Group LLC lifted its position in Blackstone Group by 2,189.3% in the third quarter. Atlantic Trust Group LLC now owns 1,911,552 shares of the asset manager’s stock worth $63,787,000 after buying an additional 1,828,052 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Blackstone Group by 2,407.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,579,492 shares of the asset manager’s stock worth $50,575,000 after buying an additional 1,516,492 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Blackstone Group by 135.5% in the third quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after buying an additional 1,117,412 shares during the last quarter. Institutional investors own 48.49% of the company’s stock.
In related news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $31.64, for a total transaction of $632,800.00. Following the sale, the insider now owns 87,852 shares of the company’s stock, valued at $2,779,637.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 800 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the sale, the insider now directly owns 87,852 shares in the company, valued at approximately $2,811,264. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 639,763 shares of company stock worth $21,985,486. Insiders own 1.00% of the company’s stock.
Blackstone Group LP (BX) opened at $34.06 on Monday. The company has a market capitalization of $22,448.52, a price-to-earnings ratio of 15.62, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 1.19. Blackstone Group LP has a 52 week low of $28.72 and a 52 week high of $37.52.
Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. analysts forecast that Blackstone Group LP will post 3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $3.40 annualized dividend and a dividend yield of 9.98%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio (DPR) is currently 155.96%.
Blackstone Group Company Profile
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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