Bourgeon Capital Management LLC reduced its stake in Blackstone Group LP (NYSE:BX) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 91,900 shares of the asset manager’s stock after selling 1,550 shares during the quarter. Blackstone Group accounts for about 1.6% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Bourgeon Capital Management LLC’s holdings in Blackstone Group were worth $2,943,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of BX. Wealthcare Advisory Partners LLC acquired a new stake in shares of Blackstone Group in the 3rd quarter valued at approximately $131,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $160,000. Jacobi Capital Management LLC boosted its stake in shares of Blackstone Group by 65.6% in the 3rd quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock valued at $192,000 after purchasing an additional 2,287 shares in the last quarter. Strategic Financial Group LLC acquired a new stake in shares of Blackstone Group in the 3rd quarter valued at approximately $200,000. Finally, New England Private Wealth Advisors LLC acquired a new stake in shares of Blackstone Group in the 3rd quarter valued at approximately $200,000. Institutional investors own 48.08% of the company’s stock.
A number of research analysts recently issued reports on BX shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Blackstone Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $34.53 to $46.00 in a report on Friday, January 12th. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 price objective on shares of Blackstone Group in a report on Thursday, January 11th. Vetr lowered shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price objective for the company. in a report on Wednesday, January 10th. Finally, Morgan Stanley raised their price objective on shares of Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Blackstone Group has a consensus rating of “Buy” and a consensus target price of $39.90.
Blackstone Group LP (BX) opened at $34.24 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a fifty-two week low of $28.45 and a fifty-two week high of $37.52. The stock has a market cap of $41,120.00, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.34.
Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.68 EPS. The company’s revenue was up 19.9% compared to the same quarter last year. sell-side analysts forecast that Blackstone Group LP will post 3.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.85 per share. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 9th. This represents a $3.40 annualized dividend and a yield of 9.93%. Blackstone Group’s dividend payout ratio (DPR) is presently 80.73%.
In other news, insider John G. Finley sold 800 shares of Blackstone Group stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the completion of the sale, the insider now owns 87,852 shares in the company, valued at approximately $2,811,264. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Group L.P. Blackstone acquired 228,535 shares of the stock in a transaction dated Friday, December 28th. The stock was bought at an average price of $29.63 per share, with a total value 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.
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Blackstone Group Company 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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