Smith Moore & CO. decreased its position in The Blackstone Group Inc. (NYSE:BX) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,530 shares of the asset manager’s stock after selling 200 shares during the period. Smith Moore & CO.’s holdings in The Blackstone Group were worth $1,120,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Howe & Rusling Inc. acquired a new position in shares of The Blackstone Group in the 1st quarter valued at about $25,000. Meeder Asset Management Inc. lifted its stake in The Blackstone Group by 101.4% in the second quarter. Meeder Asset Management Inc. now owns 288 shares of the asset manager’s stock valued at $28,000 after buying an additional 145 shares during the period. First Horizon Corp grew its position in shares of The Blackstone Group by 1,388.9% during the 1st quarter. First Horizon Corp now owns 536 shares of the asset manager’s stock worth $39,000 after buying an additional 500 shares during the period. Versant Capital Management Inc lifted its position in shares of The Blackstone Group by 35.2% during the 2nd quarter. Versant Capital Management Inc now owns 426 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 111 shares during the period. Finally, Clean Yield Group bought a new position in The Blackstone Group during the second quarter worth $46,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Joseph Baratta sold 669 shares of The Blackstone Group stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $98.93, for a total value of $66,184.17. Following the completion of the sale, the director now owns 1,283,592 shares of the company’s stock, valued at approximately $126,985,756.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lifesciences Iii L.P. Clarus acquired 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 20th. The shares were bought at an average price of $16.00 per share, for a total transaction of $2,400,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 508,477 shares of company stock worth $40,210,412. Insiders own 1.00% of the company’s stock.
NYSE:BX opened at $130.60 on Wednesday. The Blackstone Group Inc. has a 52 week low of $49.26 and a 52 week high of $132.33. The firm has a 50-day moving average price of $115.08 and a two-hundred day moving average price of $95.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $89.58 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Wednesday, July 21st. The asset manager reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business posted $0.43 earnings per share. The Blackstone Group’s revenue was up 90.3% on a year-over-year basis. As a group, sell-side analysts forecast that The Blackstone Group Inc. will post 3.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were issued a dividend of $0.8475 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 dividend on an annualized basis and a yield of 2.60%. The Blackstone Group’s dividend payout ratio (DPR) is presently 105.66%.
The Blackstone Group Profile
The Blackstone Group, 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 flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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