Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc sold 8,875,211 shares of Blackstone Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $2.50, for a total transaction of $22,188,027.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

BX stock opened at $53.68 on Thursday. The company has a 50 day moving average of $51.91 and a two-hundred day moving average of $47.90. The company has a market cap of $34.95 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.68 and a beta of 1.45. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $55.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $0.63 EPS. Blackstone Group’s revenue was down 9.9% on a year-over-year basis. On average, research analysts anticipate that Blackstone Group LP will post 2.28 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a $0.49 dividend. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.65%. Blackstone Group’s dividend payout ratio (DPR) is currently 86.73%.

Several analysts recently commented on the stock. Oppenheimer lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. They noted that the move was a valuation call. Wells Fargo & Co assumed coverage on Blackstone Group in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $60.00 target price for the company. S&P Equity Research downgraded Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America downgraded Blackstone Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $54.00 to $52.00 in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.25.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in Blackstone Group by 127.5% in the second quarter. Janus Henderson Group PLC now owns 16,212,003 shares of the asset manager’s stock worth $720,137,000 after purchasing an additional 9,085,152 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Blackstone Group in the 2nd quarter valued at approximately $234,576,000. CIBC Private Wealth Group LLC raised its holdings in shares of Blackstone Group by 2,994.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,099,714 shares of the asset manager’s stock worth $200,230,000 after buying an additional 3,967,214 shares in the last quarter. Waddell & Reed Financial Inc. raised its holdings in shares of Blackstone Group by 9.3% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 4,071,855 shares of the asset manager’s stock worth $180,872,000 after buying an additional 346,457 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Blackstone Group by 16.4% in the 2nd quarter. Wells Fargo & Company MN now owns 3,885,997 shares of the asset manager’s stock worth $172,616,000 after buying an additional 546,418 shares in the last quarter. 53.46% of the stock is owned by institutional investors.

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

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