Adalta Capital Management LLC trimmed its position in shares of Blackstone Group LP (NYSE:BX) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,473 shares of the asset manager’s stock after selling 15,350 shares during the quarter. Blackstone Group accounts for 2.5% of Adalta Capital Management LLC’s portfolio, making the stock its 17th largest position. Adalta Capital Management LLC’s holdings in Blackstone Group were worth $3,345,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in shares of Blackstone Group during the third quarter worth $131,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Blackstone Group during the fourth quarter worth $160,000. James Hambro & Partners bought a new position in shares of Blackstone Group during the fourth quarter worth $183,000. New England Private Wealth Advisors LLC bought a new position in shares of Blackstone Group during the third quarter worth $200,000. Finally, Beacon Investment Advisory Services Inc. bought a new position in shares of Blackstone Group during the third quarter worth $206,000. 48.49% of the stock is currently owned by institutional investors.
Several research firms recently commented on BX. Vetr cut shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price objective on the stock. in a research report on Monday, November 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Blackstone Group in a research report on Thursday, January 11th. JPMorgan Chase & Co. raised shares of Blackstone Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a research report on Thursday, February 1st. Finally, Zacks Investment Research cut shares of Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Blackstone Group presently has an average rating of “Buy” and an average price target of $39.90.
Shares of Blackstone Group LP (BX) opened at $34.43 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.19 and a quick ratio of 1.19. Blackstone Group LP has a 52 week low of $28.85 and a 52 week high of $37.52. The stock has a market cap of $42,320.00, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Blackstone Group had a net margin of 20.66% and a return on equity of 22.27%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 19.9% compared to the same quarter last year. equities research analysts anticipate that Blackstone Group LP will post 3.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th were paid a $0.85 dividend. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend was Friday, February 9th. Blackstone Group’s payout ratio is presently 96.05%.
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About Blackstone Group
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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