Bard Financial Services Inc. Purchases New Shares in The Blackstone Group Inc. (NYSE:BX)

Bard Financial Services Inc. purchased a new stake in The Blackstone Group Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 20,375 shares of the asset manager’s stock, valued at approximately $1,321,000.

A number of other large investors also recently added to or reduced their stakes in the stock. King Luther Capital Management Corp boosted its holdings in The Blackstone Group by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 12,962 shares of the asset manager’s stock valued at $840,000 after acquiring an additional 162 shares in the last quarter. Advisor Partners LLC boosted its holdings in The Blackstone Group by 2.6% in the third quarter. Advisor Partners LLC now owns 6,622 shares of the asset manager’s stock valued at $346,000 after acquiring an additional 167 shares in the last quarter. Chesapeake Wealth Management boosted its holdings in The Blackstone Group by 1.3% in the fourth quarter. Chesapeake Wealth Management now owns 12,912 shares of the asset manager’s stock valued at $837,000 after acquiring an additional 169 shares in the last quarter. Johanson Financial Advisors Inc. boosted its holdings in The Blackstone Group by 3.0% in the fourth quarter. Johanson Financial Advisors Inc. now owns 6,087 shares of the asset manager’s stock valued at $394,000 after acquiring an additional 180 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in The Blackstone Group by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 45,488 shares of the asset manager’s stock valued at $2,948,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 59.77% of the company’s stock.

Several analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Blackstone Group from $58.00 to $62.00 and gave the company a “hold” rating in a report on Thursday, January 28th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on The Blackstone Group from $84.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. BMO Capital Markets raised their price objective on The Blackstone Group from $63.00 to $72.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. Piper Sandler initiated coverage on The Blackstone Group in a research report on Thursday, January 14th. They set an “overweight” rating and a $71.00 price objective for the company. Finally, Barclays raised their price objective on The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The Blackstone Group has a consensus rating of “Buy” and an average price target of $68.96.

Shares of NYSE:BX opened at $75.23 on Thursday. The Blackstone Group Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $76.25. The business has a 50-day simple moving average of $71.82 and a two-hundred day simple moving average of $63.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $51.45 billion, a price-to-earnings ratio of 70.31 and a beta of 1.33.

The Blackstone Group (NYSE:BX) last released its quarterly earnings results on Tuesday, January 26th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.20. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.28 billion. The company’s revenue for the quarter was up 73.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, research analysts predict that The Blackstone Group Inc. will post 2.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Shareholders of record on Monday, February 8th were paid a dividend of $0.7175 per share. This is an increase from The Blackstone Group’s previous quarterly dividend of $0.54. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Friday, February 5th. The Blackstone Group’s payout ratio is currently 166.23%.

In other The Blackstone Group news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the business’s stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $37.00, for a total transaction of $87,713,384.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

About The Blackstone Group

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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Institutional Ownership by Quarter for The Blackstone Group (NYSE:BX)

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