Brandywine Global Investment Management LLC reduced its position in shares of Blackstone Group LP (NYSE:BX) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,253,963 shares of the asset manager’s stock after selling 211,526 shares during the quarter. Brandywine Global Investment Management LLC owned 0.49% of Blackstone Group worth $97,001,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JOYN Advisors Inc. increased its holdings in shares of Blackstone Group by 4.5% in the fourth quarter. JOYN Advisors Inc. now owns 7,652 shares of the asset manager’s stock valued at $228,000 after purchasing an additional 329 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Blackstone Group by 6.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 5,906 shares of the asset manager’s stock valued at $176,000 after purchasing an additional 347 shares during the last quarter. NewSquare Capital LLC increased its holdings in shares of Blackstone Group by 0.8% in the fourth quarter. NewSquare Capital LLC now owns 48,277 shares of the asset manager’s stock valued at $1,439,000 after purchasing an additional 402 shares during the last quarter. HGK Asset Management Inc. increased its holdings in shares of Blackstone Group by 2.8% in the fourth quarter. HGK Asset Management Inc. now owns 14,886 shares of the asset manager’s stock valued at $444,000 after purchasing an additional 405 shares during the last quarter. Finally, Regent Investment Management LLC increased its holdings in shares of Blackstone Group by 7.7% in the fourth quarter. Regent Investment Management LLC now owns 7,000 shares of the asset manager’s stock valued at $209,000 after purchasing an additional 500 shares during the last quarter. 50.15% of the stock is currently owned by hedge funds and other institutional investors.
BX stock opened at $34.88 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.04. Blackstone Group LP has a 52 week low of $26.88 and a 52 week high of $40.60. The stock has a market capitalization of $22.82 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 3.22 and a beta of 1.43.
Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, January 31st. The asset manager reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $381.19 million. During the same quarter last year, the company posted $0.71 earnings per share. The company’s revenue was down 74.2% on a year-over-year basis. On average, analysts predict that Blackstone Group LP will post 2.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 19th. Investors of record on Monday, February 11th were paid a $0.58 dividend. The ex-dividend date of this dividend was Friday, February 8th. This represents a $2.32 annualized dividend and a dividend yield of 6.65%. Blackstone Group’s dividend payout ratio (DPR) is presently 102.65%.
Several research firms have commented on BX. Morgan Stanley decreased their price objective on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.54.
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About Blackstone Group
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.
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