Manning & Napier Group LLC purchased a new position in The Blackstone Group (NYSE:BX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,251 shares of the asset manager’s stock, valued at approximately $965,000.
A number of other large investors have also recently made changes to their positions in BX. Bank of Montreal Can grew its stake in The Blackstone Group by 77.0% in the fourth quarter. Bank of Montreal Can now owns 22,232,729 shares of the asset manager’s stock worth $711,892,000 after purchasing an additional 9,669,716 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in The Blackstone Group by 165.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,535,792 shares of the asset manager’s stock worth $113,216,000 after purchasing an additional 2,202,719 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in The Blackstone Group by 2,407.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,579,492 shares of the asset manager’s stock worth $50,575,000 after purchasing an additional 1,516,492 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in The Blackstone Group in the fourth quarter worth approximately $27,594,000. Finally, HMI Capital LLC grew its stake in The Blackstone Group by 23.8% in the fourth quarter. HMI Capital LLC now owns 2,652,707 shares of the asset manager’s stock worth $84,940,000 after purchasing an additional 509,707 shares in the last quarter. 46.69% of the stock is currently owned by institutional investors.
In other news, insider John G. Finley sold 22,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $34.15, for a total transaction of $751,300.00. Following the completion of the sale, the insider now owns 133,003 shares in the company, valued at approximately $4,542,052.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman J Tomilson Hill sold 227,636 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $34.55, for a total value of $7,864,823.80. Following the sale, the insider now 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 quarter, insiders have sold 672,000 shares of company stock valued at $23,130,874. Company insiders own 1.00% of the company’s stock.
Shares of NYSE BX opened at $31.88 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.15 and a beta of 1.36. The Blackstone Group has a 12-month low of $29.03 and a 12-month high of $37.52.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, April 19th. The asset manager reported $0.65 EPS for the quarter, beating the consensus estimate of $0.46 by $0.19. The Blackstone Group had a return on equity of 23.96% and a net margin of 19.82%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities research analysts expect that The Blackstone Group will post 2.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 7th. Stockholders of record on Monday, April 30th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, April 27th. This represents a $1.40 annualized dividend and a dividend yield of 4.39%. The Blackstone Group’s dividend payout ratio is presently 49.82%.
Several brokerages recently issued reports on BX. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 price objective on shares of The Blackstone Group in a research note on Thursday, February 1st. JPMorgan Chase raised The Blackstone Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of The Blackstone Group in a research report on Thursday, January 11th. Vetr cut The Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 target price on the stock. in a research report on Wednesday, January 10th. Finally, ValuEngine raised The Blackstone Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The Blackstone Group presently has an average rating of “Hold” and an average target price of $39.90.
The Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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