The Blackstone Group Inc. (NYSE:BX) Shares Bought by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC raised its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 82,922 shares of the asset manager’s stock after purchasing an additional 758 shares during the period. The Blackstone Group makes up approximately 1.9% of Princeton Global Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Princeton Global Asset Management LLC’s holdings in The Blackstone Group were worth $5,374,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC raised its holdings in The Blackstone Group by 14.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 17,163 shares of the asset manager’s stock valued at $1,112,000 after acquiring an additional 2,212 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of The Blackstone Group during the fourth quarter valued at about $47,854,000. Blair William & Co. IL raised its stake in The Blackstone Group by 28.7% in the fourth quarter. Blair William & Co. IL now owns 896,473 shares of the asset manager’s stock worth $58,100,000 after buying an additional 199,745 shares in the last quarter. Vectors Research Management LLC grew its holdings in The Blackstone Group by 127.9% in the fourth quarter. Vectors Research Management LLC now owns 3,988 shares of the asset manager’s stock worth $258,000 after purchasing an additional 2,238 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in The Blackstone Group by 2.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 127,958 shares of the asset manager’s stock worth $8,293,000 after purchasing an additional 2,768 shares during the last quarter. 59.77% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on BX shares. Credit Suisse Group raised their target price on shares of The Blackstone Group from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Barclays upped their price target on shares of The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft upped 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. Zacks Investment Research upgraded shares of The Blackstone Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, January 12th. Finally, Piper Sandler initiated coverage on shares of The Blackstone Group in a research report on Thursday, January 14th. They issued an “overweight” rating and a $71.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The Blackstone Group presently has an average rating of “Buy” and a consensus price target of $66.79.

Shares of BX stock traded down $1.06 during trading hours on Tuesday, hitting $68.46. 27,978 shares of the company were exchanged, compared to its average volume of 2,781,587. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The Blackstone Group Inc. has a 1 year low of $33.00 and a 1 year high of $72.10. The firm has a fifty day moving average of $66.79 and a 200 day moving average of $58.94. The firm has a market cap of $46.14 billion, a PE ratio of 64.49 and a beta of 1.33.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Tuesday, January 26th. The asset manager reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.28 billion. The Blackstone Group’s revenue for the quarter was up 73.5% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. Analysts expect that The Blackstone Group Inc. will post 2.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 8th were paid a $0.7175 dividend. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, February 5th. This represents a $2.87 annualized dividend and a yield of 4.19%. The Blackstone Group’s payout ratio is currently 166.23%.

In other news, major shareholder Holdings L.P. Blackstone III purchased 42,425 shares of the business’s stock in a transaction dated Monday, January 4th. The shares were acquired at an average price of $34.93 per share, with a total value of $1,481,905.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Blackstone Bdc Holdings Llc acquired 997,940 shares of the company’s stock in a transaction that occurred on Thursday, January 7th. The stock was bought at an average price of $25.00 per share, with a total value of $24,948,500.00. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

The Blackstone Group Company Profile

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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