Cetera Advisor Networks LLC raised its stake in Blackstone Group LP (NYSE:BX) by 92.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,460 shares of the asset manager’s stock after buying an additional 32,915 shares during the period. Cetera Advisor Networks LLC’s holdings in Blackstone Group were worth $2,194,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in BX. Gofen & Glossberg LLC IL raised its position in shares of Blackstone Group by 1.3% during the second quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock worth $282,000 after purchasing an additional 110 shares during the period. Cetera Investment Advisers raised its position in shares of Blackstone Group by 12.9% during the second quarter. Cetera Investment Advisers now owns 13,381 shares of the asset manager’s stock worth $446,000 after purchasing an additional 1,528 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Blackstone Group during the second quarter worth about $233,000. M Holdings Securities Inc. acquired a new stake in shares of Blackstone Group during the second quarter worth about $239,000. Finally, Intl Fcstone Inc. acquired a new stake in shares of Blackstone Group during the second quarter worth about $895,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider John G. Finley sold 20,000 shares of Blackstone Group stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $31.64, for a total value of $632,800.00. Following the sale, the insider now owns 87,852 shares of the company’s stock, valued at approximately $2,779,637.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Group L.P. Blackstone bought 228,535 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was purchased at an average cost of $29.63 per share, for a total transaction of $6,771,492.05. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.
Shares of Blackstone Group LP (NYSE:BX) opened at $33.78 on Thursday. Blackstone Group LP has a 1 year low of $28.45 and a 1 year high of $37.52. The stock has a market capitalization of $22,436.01, a P/E ratio of 15.50, a P/E/G ratio of 1.14 and a beta of 1.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm earned $0.68 EPS. Blackstone Group’s revenue for the quarter was up 19.9% compared to the same quarter last year. equities analysts expect that Blackstone Group LP will post 3.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 12th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date is Friday, February 9th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio (DPR) is currently 155.96%.
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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