Blackstone Group LP (NYSE:BX) Major Shareholder Blackstone Group Inc Acquires 46,500 Shares

Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc acquired 46,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $7.98 per share, for a total transaction of $371,070.00. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Wednesday, August 14th, Blackstone Group Inc acquired 79,368 shares of Blackstone Group stock. The shares were acquired at an average cost of $7.07 per share, for a total transaction of $561,131.76.
  • On Monday, August 12th, Blackstone Group Inc acquired 100,000 shares of Blackstone Group stock. The shares were acquired at an average cost of $7.94 per share, for a total transaction of $794,000.00.
  • On Friday, August 9th, Blackstone Group Inc acquired 64,708 shares of Blackstone Group stock. The shares were acquired at an average cost of $7.82 per share, for a total transaction of $506,016.56.

Blackstone Group stock traded up $1.51 during trading hours on Friday, hitting $47.23. The stock had a trading volume of 3,702,019 shares, compared to its average volume of 5,010,358. The company has a quick ratio of 0.98, a current ratio of 0.89 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $31.17 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.47. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $49.81. The stock’s 50-day moving average price is $46.79 and its 200-day moving average price is $39.83.



Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was down 43.5% compared to the same quarter last year. On average, research analysts expect that Blackstone Group LP will post 2.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, July 26th. This represents a $1.92 annualized dividend and a dividend yield of 4.07%. Blackstone Group’s payout ratio is 84.96%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BX. Janus Henderson Group PLC raised its holdings in shares of Blackstone Group by 127.5% during the second quarter. Janus Henderson Group PLC now owns 16,212,003 shares of the asset manager’s stock valued at $720,137,000 after purchasing an additional 9,085,152 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Blackstone Group by 49.9% during the first quarter. Bank of Montreal Can now owns 21,124,981 shares of the asset manager’s stock valued at $738,740,000 after purchasing an additional 7,030,805 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Blackstone Group during the second quarter valued at approximately $234,576,000. Ellis Investment Partners LLC raised its holdings in shares of Blackstone Group by 3,640.1% during the first quarter. Ellis Investment Partners LLC now owns 2,870,039 shares of the asset manager’s stock valued at $2,870,000 after purchasing an additional 2,793,303 shares during the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Blackstone Group by 92.0% during the second quarter. Artemis Investment Management LLP now owns 2,050,040 shares of the asset manager’s stock valued at $90,868,000 after purchasing an additional 982,153 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on BX. JMP Securities cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Deutsche Bank lifted their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Zacks Investment Research raised shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 25th. Morgan Stanley lifted their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Citigroup set a $52.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.10.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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