Global Financial Private Capital LLC Invests $571,000 in Blackstone Group LP (BX)

Global Financial Private Capital LLC bought a new position in Blackstone Group LP (NYSE:BX) during the 4th quarter, HoldingsChannel reports. The fund bought 17,827 shares of the asset manager’s stock, valued at approximately $571,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. Griffin Asset Management Inc. purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $233,000. M Holdings Securities Inc. purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $239,000. Intl Fcstone Inc. purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $895,000. Frontier Investment Mgmt Co. purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $748,000. Finally, Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Blackstone Group by 2.3% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 260,486 shares of the asset manager’s stock valued at $8,692,000 after purchasing an additional 5,917 shares during the last quarter. Hedge funds and other institutional investors own 45.83% of the company’s stock.

Shares of Blackstone Group LP (BX) opened at $34.51 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $23,077.99, a price-to-earnings ratio of 12.28, a PEG ratio of 1.17 and a beta of 1.31. Blackstone Group LP has a 52 week low of $28.45 and a 52 week high of $37.52.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. research analysts anticipate that Blackstone Group LP will post 3.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th will be paid a $0.85 dividend. The ex-dividend date is Friday, February 9th. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.85%. Blackstone Group’s dividend payout ratio is 155.96%.

In related news, insider John G. Finley sold 800 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total transaction of $25,600.00. Following the completion of the transaction, the insider now owns 87,852 shares in the company, valued at $2,811,264. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.64, for a total transaction of $632,800.00. Following the transaction, the insider now owns 87,852 shares of the company’s stock, valued at approximately $2,779,637.28. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of brokerages have commented on BX. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 target price on shares of Blackstone Group in a report on Thursday, February 1st. Zacks Investment Research cut shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. JPMorgan Chase & Co. cut shares of Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Vetr cut shares of Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 target price for the company. in a report on Wednesday, January 10th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.90.

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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.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

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