Blackstone Group LP (NYSE:BX) major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average price of $25.00 per share, for a total transaction of $4,800,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

BX opened at $32.50 on Friday. Blackstone Group LP has a 12 month low of $30.08 and a 12 month high of $40.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $21.98 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Blackstone Group LP will post 2.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Monday, October 29th were given a $0.64 dividend. This is a boost from Blackstone Group’s previous quarterly dividend of $0.58. This represents a $2.56 annualized dividend and a yield of 7.88%. The ex-dividend date of this dividend was Friday, October 26th. Blackstone Group’s dividend payout ratio (DPR) is currently 91.10%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its position in Blackstone Group by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 23,365 shares of the asset manager’s stock valued at $752,000 after acquiring an additional 1,421 shares during the period. Leavell Investment Management Inc. increased its position in Blackstone Group by 3.4% in the 3rd quarter. Leavell Investment Management Inc. now owns 45,000 shares of the asset manager’s stock valued at $1,714,000 after acquiring an additional 1,500 shares during the period. Syntal Capital Partners LLC increased its position in shares of Blackstone Group by 5.8% during the 2nd quarter. Syntal Capital Partners LLC now owns 29,039 shares of the asset manager’s stock valued at $934,000 after purchasing an additional 1,593 shares during the period. Aviance Capital Partners LLC increased its position in shares of Blackstone Group by 4.8% during the 2nd quarter. Aviance Capital Partners LLC now owns 34,623 shares of the asset manager’s stock valued at $1,113,000 after purchasing an additional 1,600 shares during the period. Finally, Wealthstreet Investment Advisors LLC increased its position in shares of Blackstone Group by 5.4% during the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 33,155 shares of the asset manager’s stock valued at $1,067,000 after purchasing an additional 1,705 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

BX has been the topic of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Blackstone Group in a research report on Friday, July 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $40.00 price target on shares of Blackstone Group in a research report on Friday, July 20th. Oppenheimer set a $42.00 price target on Blackstone Group and gave the stock a “buy” rating in a research report on Thursday, July 19th. Citigroup increased their price target on Blackstone Group from $41.50 to $43.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Credit Suisse Group dropped their price target on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $42.95.

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Blackstone Group Company 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.

Further Reading: Hedge Funds – Risk or Reward?

Insider Buying and Selling by Quarter for Blackstone Group (NYSE:BX)

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