Rossmore Private Capital Increases Holdings in Blackstone Group LP (NYSE:BX)
Rossmore Private Capital lifted its position in shares of Blackstone Group LP (NYSE:BX) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,516 shares of the asset manager’s stock after buying an additional 200 shares during the period. Rossmore Private Capital’s holdings in Blackstone Group were worth $288,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its stake in Blackstone Group by 359.8% in the 4th quarter. Allworth Financial LP now owns 469 shares of the asset manager’s stock worth $26,000 after purchasing an additional 367 shares during the period. Howard Wealth Management LLC purchased a new position in Blackstone Group in the 4th quarter worth approximately $27,000. Carmichael Hill & Associates Inc. purchased a new position in Blackstone Group in the 4th quarter worth approximately $28,000. First Bank & Trust bought a new stake in shares of Blackstone Group in the 1st quarter worth approximately $30,000. Finally, OmniStar Financial Group Inc. bought a new stake in shares of Blackstone Group in the 1st quarter worth approximately $30,000. 55.43% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. William Blair reiterated a “buy” rating on shares of Blackstone Group in a research report on Friday, April 24th. Wells Fargo & Co lifted their price target on Blackstone Group from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America dropped their price target on Blackstone Group from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Credit Suisse Group restated a “buy” rating and set a $65.00 price target on shares of Blackstone Group in a research report on Sunday, February 2nd. Finally, Morgan Stanley lifted their price target on Blackstone Group from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.35.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 13.87%. During the same quarter last year, the company posted $0.71 EPS. Equities research analysts predict that Blackstone Group LP will post 2.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, May 1st. Blackstone Group’s dividend payout ratio is presently 67.53%.
In related news, major shareholder Blackstone Group Inc purchased 333,965 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $26.02 per share, with a total value of $8,689,769.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 1,665,085 shares of company stock valued at $41,383,583 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Group Company Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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