Jefferies Group LLC acquired a new stake in shares of Blackstone Group LP (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 63,964 shares of the asset manager’s stock, valued at approximately $2,048,000.
Several other institutional investors and hedge funds also recently bought and sold shares of BX. Syntal Capital Partners LLC lifted its position in Blackstone Group by 207.7% during the fourth quarter. Syntal Capital Partners LLC now owns 29,102 shares of the asset manager’s stock worth $931,000 after buying an additional 19,645 shares during the period. Hilton Capital Management LLC purchased a new position in Blackstone Group during the third quarter worth about $416,000. BLB&B Advisors LLC purchased a new position in Blackstone Group during the fourth quarter worth about $289,000. Neuberger Berman Group LLC lifted its position in Blackstone Group by 135.5% during 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 period. Finally, Bessemer Group Inc. lifted its position in Blackstone Group by 27.5% during the third quarter. Bessemer Group Inc. now owns 15,050 shares of the asset manager’s stock worth $502,000 after buying an additional 3,250 shares during the period. 48.49% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on BX shares. Vetr downgraded Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a research report on Monday, November 20th. Credit Suisse Group reiterated a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a research report on Thursday, January 11th. JPMorgan Chase & Co. upgraded Blackstone Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $34.53 to $46.00 in a research report on Friday, January 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 target price on shares of Blackstone Group in a research report on Thursday, February 1st. Finally, Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Blackstone Group has an average rating of “Buy” and a consensus price target of $39.90.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.73 billion. Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. equities research analysts anticipate that Blackstone Group LP will post 3.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.92%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 9th. Blackstone Group’s dividend payout ratio (DPR) is 96.05%.
In related news, Vice Chairman J Tomilson Hill sold 227,636 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $34.55, for a total transaction of $7,864,823.80. Following the sale, the insider now directly owns 1,410,304 shares in the company, valued at approximately $48,726,003.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Finley sold 22,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $34.15, for a total value of $751,300.00. Following the sale, the insider now owns 133,003 shares in the company, valued at $4,542,052.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 692,000 shares of company stock worth $23,763,674. Company insiders own 1.00% of the company’s stock.
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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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