Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $7.94 per share, for a total transaction of $794,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Friday, August 9th, Blackstone Group Inc bought 64,708 shares of Blackstone Group stock. The shares were acquired at an average price of $7.82 per share, for a total transaction of $506,016.56.

Shares of NYSE BX traded up $1.19 during trading hours on Tuesday, hitting $47.65. 5,035,474 shares of the stock were exchanged, compared to its average volume of 5,020,163. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market cap of $30.73 billion, a P/E ratio of 21.08, a PEG ratio of 1.04 and a beta of 1.47. The firm has a fifty day moving average of $46.67. Blackstone Group LP has a 1-year low of $26.88 and a 1-year high of $49.81.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. The firm’s revenue for the quarter was down 43.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities analysts anticipate that Blackstone Group LP will post 2.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.48 per share. The ex-dividend date was Friday, July 26th. This represents a $1.92 annualized dividend and a dividend yield of 4.03%. Blackstone Group’s dividend payout ratio is 84.96%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cypress Capital Management LLC WY acquired a new stake in Blackstone Group in the second quarter valued at approximately $25,000. Resources Investment Advisors Inc. boosted its position in Blackstone Group by 606.0% in the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock valued at $25,000 after buying an additional 606 shares in the last quarter. Coastal Capital Group Inc. acquired a new stake in Blackstone Group in the second quarter valued at approximately $35,000. Investors Research Corp acquired a new stake in Blackstone Group in the first quarter valued at approximately $28,000. Finally, Meridian Wealth Management LLC acquired a new stake in Blackstone Group in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

A number of research analysts have issued reports on BX shares. Barclays started coverage on shares of Blackstone Group in a research report on Monday, August 5th. They set an “overweight” rating and a $56.00 target price on the stock. JMP Securities lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Deutsche Bank increased their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley increased their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.10.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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