Sei Investments Co. cut its stake in shares of Blackstone Group LP (NYSE:BX) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 491,984 shares of the asset manager’s stock after selling 73,547 shares during the period. Sei Investments Co.’s holdings in Blackstone Group were worth $15,754,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in BX. SMH Capital Advisors Inc. bought a new position in shares of Blackstone Group in the fourth quarter worth approximately $791,000. River & Mercantile Asset Management LLP increased its position in shares of Blackstone Group by 36.0% in the fourth quarter. River & Mercantile Asset Management LLP now owns 100,495 shares of the asset manager’s stock worth $3,218,000 after purchasing an additional 26,590 shares during the last quarter. Wealthstreet Investment Advisors LLC bought a new position in shares of Blackstone Group in the fourth quarter worth approximately $978,000. Sigma Planning Corp increased its position in shares of Blackstone Group by 8.6% in the fourth quarter. Sigma Planning Corp now owns 23,957 shares of the asset manager’s stock worth $767,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. increased its position in shares of Blackstone Group by 6.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 155,778 shares of the asset manager’s stock worth $5,455,000 after purchasing an additional 9,935 shares during the last quarter. Hedge funds and other institutional investors own 45.83% of the company’s stock.
BX has been the subject of several research reports. JPMorgan Chase & Co. lowered Blackstone Group from an “overweight” rating to a “hold” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 target price on shares of Blackstone Group in a research note on Thursday, February 1st. Vetr raised Blackstone Group from a “buy” rating to a “strong-buy” rating and set a $35.50 target price for the company in a research note on Monday, November 27th. Zacks Investment Research lowered Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $47.00 target price on shares of Blackstone Group in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Blackstone Group presently has a consensus rating of “Hold” and an average price target of $39.90.
Shares of Blackstone Group LP (BX) opened at $34.17 on Wednesday. The stock has a market capitalization of $23,077.99, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.17 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 LP has a 52 week low of $28.45 and a 52 week high of $37.52.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.73 billion. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. equities analysts expect that Blackstone Group LP will post 3.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.95%. The ex-dividend date of this dividend was Friday, February 9th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio is 155.96%.
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Blackstone Group 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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