Capital Analysts LLC acquired a new position in shares of Blackstone Group LP (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,831 shares of the asset manager’s stock, valued at approximately $3,485,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in Blackstone Group by 3.0% during the fourth quarter. Brown Advisory Inc. now owns 860,410 shares of the asset manager’s stock worth $27,551,000 after purchasing an additional 25,445 shares during the last quarter. Mutual Advisors LLC purchased a new position in Blackstone Group during the fourth quarter worth about $201,000. Brown Advisory Securities LLC boosted its stake in Blackstone Group by 86.1% during the fourth quarter. Brown Advisory Securities LLC now owns 16,967 shares of the asset manager’s stock worth $541,000 after buying an additional 7,851 shares during the period. First Republic Investment Management Inc. boosted its stake in Blackstone Group by 26.8% during the fourth quarter. First Republic Investment Management Inc. now owns 218,947 shares of the asset manager’s stock worth $7,011,000 after buying an additional 46,214 shares during the period. Finally, Timber Hill LLC boosted its stake in Blackstone Group by 649.2% during the fourth quarter. Timber Hill LLC now owns 58,386 shares of the asset manager’s stock worth $1,870,000 after buying an additional 50,593 shares during the period. Hedge funds and other institutional investors own 45.83% of the company’s stock.
Blackstone Group LP (NYSE BX) opened at $34.02 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a 12 month low of $28.45 and a 12 month high of $37.52. The company has a market cap of $22,763.69, a P/E ratio of 12.11, a PEG ratio of 1.15 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were paid a $0.85 dividend. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, February 9th. This represents a $3.40 annualized dividend and a dividend yield of 9.99%. Blackstone Group’s dividend payout ratio (DPR) is presently 155.96%.
In other news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total value of $632,800.00. Following the completion of the transaction, the insider now owns 87,852 shares of the company’s stock, valued at $2,779,637.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman J Tomilson Hill sold 227,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $34.55, for a total transaction of $7,864,823.80. Following the completion of the transaction, the insider now directly owns 1,410,304 shares of the company’s stock, valued at approximately $48,726,003.20. The disclosure for this sale can be found here. In the last three months, insiders sold 348,436 shares of company stock valued at $11,981,224. Insiders own 1.00% of the company’s stock.
BX has been the subject of several research analyst reports. Vetr lowered shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price for the company. in a research note on Monday, November 20th. JPMorgan Chase & Co. raised shares of Blackstone Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $34.53 to $46.00 in a research note on Friday, January 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a research note on Thursday, January 11th. Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 target price on shares of Blackstone Group in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Blackstone Group presently 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.
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