Corient Capital Partners LLC boosted its position in The Blackstone Group Inc. (NYSE:BX) by 23.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,573 shares of the asset manager’s stock after acquiring an additional 1,990 shares during the quarter. Corient Capital Partners LLC’s holdings in The Blackstone Group were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of BX. Bell Investment Advisors Inc acquired a new stake in The Blackstone Group in the 3rd quarter worth $26,000. Assetmark Inc. grew its position in The Blackstone Group by 86.1% in the 3rd quarter. Assetmark Inc. now owns 294 shares of the asset manager’s stock worth $34,000 after purchasing an additional 136 shares during the last quarter. Logan Capital Management Inc. grew its position in The Blackstone Group by 96.8% in the 3rd quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager’s stock worth $35,000 after purchasing an additional 150 shares during the last quarter. Private Capital Group LLC grew its position in The Blackstone Group by 45.2% in the 3rd quarter. Private Capital Group LLC now owns 443 shares of the asset manager’s stock worth $52,000 after purchasing an additional 138 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in The Blackstone Group in the 3rd quarter worth $55,000. Institutional investors and hedge funds own 61.09% of the company’s stock.
In other The Blackstone Group news, Vice Chairman Hamilton E. James sold 3,074,349 shares of the business’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $134.45, for a total value of $413,346,223.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 37,500 shares of the business’s stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $134.99, for a total transaction of $5,062,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,179,349 shares of company stock valued at $427,569,373 over the last three months. 1.00% of the stock is currently owned by insiders.
Shares of BX stock opened at $123.86 on Friday. The Blackstone Group Inc. has a 12-month low of $63.71 and a 12-month high of $149.78. The company has a market capitalization of $85.08 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.94 and a beta of 1.31. The firm has a 50-day moving average price of $124.15 and a 200 day moving average price of $127.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.36.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, January 27th. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. The Blackstone Group had a net margin of 25.94% and a return on equity of 18.42%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 59.0% on a year-over-year basis. As a group, research analysts expect that The Blackstone Group Inc. will post 5.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 14th. Investors of record on Monday, February 7th were issued a dividend of $1.45 per share. This is an increase from The Blackstone Group’s previous quarterly dividend of $1.03. This represents a $5.80 annualized dividend and a yield of 4.68%. The ex-dividend date was Friday, February 4th. The Blackstone Group’s dividend payout ratio (DPR) is currently 71.25%.
BX has been the topic of several research analyst reports. Citigroup raised their price target on shares of The Blackstone Group from $114.50 to $141.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 26th. Wells Fargo & Company initiated coverage on shares of The Blackstone Group in a report on Wednesday, December 15th. They set an “equal weight” rating and a $135.00 price objective for the company. Morgan Stanley raised their price objective on shares of The Blackstone Group from $165.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, January 31st. Zacks Investment Research downgraded shares of The Blackstone Group from a “strong-buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a report on Wednesday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of The Blackstone Group to $176.00 in a report on Thursday, January 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.40.
The Blackstone Group Company Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of its flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and Blackstone Core Equity Partners.
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