Creative Planning grew its holdings in shares of Blackstone Group LP (NYSE:BX) by 19.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,749 shares of the asset manager’s stock after buying an additional 20,251 shares during the period. Creative Planning’s holdings in Blackstone Group were worth $6,142,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BX. Cypress Capital Management LLC WY bought a new position in shares of Blackstone Group in the 2nd quarter worth $25,000. Burt Wealth Advisors bought a new position in shares of Blackstone Group in the 3rd quarter worth $26,000. Lenox Wealth Advisors LLC purchased a new stake in Blackstone Group in the 3rd quarter valued at $28,000. Centaurus Financial Inc. raised its position in Blackstone Group by 194.0% in the 1st quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after buying an additional 683 shares during the last quarter. Finally, Hartford Financial Management Inc. purchased a new stake in Blackstone Group in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 47.88% of the company’s stock.
In other Blackstone Group news, insider Joan Solotar sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $53.83, for a total value of $1,345,750.00. Following the completion of the transaction, the insider now owns 235,803 shares in the company, valued at approximately $12,693,275.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Blackstone Group Inc bought 79,368 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $7.07 per share, with a total value of $561,131.76. The disclosure for this purchase can be found here. In the last three months, insiders purchased 629,611 shares of company stock valued at $5,075,527 and sold 16,299,557 shares valued at $558,804,845. Company insiders own 1.00% of the company’s stock.
BX traded up $0.27 during trading hours on Friday, hitting $51.67. The stock had a trading volume of 1,881,009 shares, compared to its average volume of 4,077,599. The company’s fifty day simple moving average is $50.12 and its 200 day simple moving average is $46.22. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $55.17. The stock has a market cap of $34.92 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.47. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.82.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Blackstone Group had a return on equity of 7.71% and a net margin of 27.05%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, equities analysts expect that Blackstone Group LP will post 2.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.96 annualized dividend and a yield of 3.79%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.48. Blackstone Group’s dividend payout ratio (DPR) is 86.73%.
A number of equities research analysts recently commented on the company. Bank of America lowered Blackstone Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $54.00 to $52.00 in a research report on Monday, October 14th. Barclays set a $53.00 target price on Blackstone Group and gave the company a “buy” rating in a research report on Friday, October 11th. Deutsche Bank raised their target price on Blackstone Group from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Oppenheimer lowered Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their target price on Blackstone Group from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Blackstone Group has a consensus rating of “Hold” and a consensus price target of $52.63.
Blackstone Group Company Profile
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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