Skandinaviska Enskilda Banken AB publ lifted its holdings in Blackstone Group LP (NYSE:BX) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,950 shares of the asset manager’s stock after acquiring an additional 50,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Blackstone Group were worth $12,603,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of Blackstone Group in the 3rd quarter worth approximately $114,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Blackstone Group in the 3rd quarter worth approximately $115,000. Quad Cities Investment Group LLC acquired a new position in shares of Blackstone Group in the 2nd quarter worth approximately $122,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Blackstone Group in the 3rd quarter worth approximately $175,000. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Blackstone Group by 94.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock worth $156,000 after acquiring an additional 2,362 shares in the last quarter. 48.75% of the stock is currently owned by institutional investors and hedge funds.
BX has been the topic of several recent analyst reports. Morgan Stanley reissued a “buy” rating on shares of Blackstone Group in a report on Friday, September 14th. JMP Securities upped their price objective on Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. ValuEngine raised Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Zacks Investment Research raised Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, August 16th. Finally, Argus upped their price objective on Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.45.
In other Blackstone Group news, Vice Chairman J Tomilson Hill sold 81,420 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $35.95, for a total transaction of $2,927,049.00. Following the completion of the sale, the insider now owns 928,884 shares in the company, valued at approximately $33,393,379.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
NYSE:BX opened at $33.99 on Friday. Blackstone Group LP has a 52-week low of $29.57 and a 52-week high of $40.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $23.46 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.18 and a beta of 1.39.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.99% and a net margin of 22.34%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that Blackstone Group LP will post 2.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Monday, October 29th were issued a dividend of $0.64 per share. This is an increase from Blackstone Group’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 26th. This represents a $2.56 annualized dividend and a yield of 7.53%. Blackstone Group’s dividend payout ratio is currently 91.10%.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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.
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