Todays Report: Today, 9,728,297 Shares of Blackstone Group L.P. (BX) Stock are sold by Holdings L.P. Blackstone III

Today, 9,728,297 Shares of Blackstone Group L.P. (BX) Stock are sold by Holdings L.P. Blackstone III

Blackstone Group L.P. (NYSE:BX) major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $22.66, for a total value of $220,443,210.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Blackstone Group L.P. (NYSE:BX) opened at 26.03 on Friday. The firm’s 50-day moving average price is $24.72 and its 200 day moving average price is $25.76. The stock has a market capitalization of $16.43 billion, a P/E ratio of 21.69 and a beta of 1.46. Blackstone Group L.P. has a 52 week low of $22.31 and a 52 week high of $31.87.

Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, October 27th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.08. Blackstone Group L.P. had a net margin of 23.30% and a return on equity of 15.41%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the firm earned ($0.35) EPS. The firm’s quarterly revenue was down 4432.0% on a year-over-year basis. Analysts expect that Blackstone Group L.P. will post $1.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, November 7th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend was Thursday, November 3rd. This is a positive change from Blackstone Group L.P.’s previous quarterly dividend of $0.36. Blackstone Group L.P.’s payout ratio is 133.33%.

Several hedge funds and other institutional investors have recently made changes to their positions in BX. Mosaic Family Wealth LLC increased its stake in Blackstone Group L.P. by 0.3% in the third quarter. Mosaic Family Wealth LLC now owns 7,812 shares of the company’s stock valued at $199,000 after buying an additional 21 shares in the last quarter. Adirondack Trust Co. increased its stake in Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock valued at $128,000 after buying an additional 36 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock valued at $125,000 after buying an additional 51 shares in the last quarter. HL Financial Services LLC increased its stake in Blackstone Group L.P. by 0.3% in the third quarter. HL Financial Services LLC now owns 27,302 shares of the company’s stock valued at $697,000 after buying an additional 90 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Blackstone Group L.P. by 0.8% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 13,691 shares of the company’s stock valued at $350,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 48.49% of the company’s stock.

Several equities research analysts recently weighed in on BX shares. Jefferies Group restated a “buy” rating on shares of Blackstone Group L.P. in a report on Wednesday, October 12th. Vetr raised Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $29.22 price target for the company in a research report on Tuesday, September 13th. Zacks Investment Research raised Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $35.00 price target on shares of Blackstone Group L.P. in a research report on Monday, September 19th. Finally, Barclays PLC upped their price target on Blackstone Group L.P. from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.84.

About Blackstone Group L.P.

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

Receive News & Ratings for Blackstone Group L.P. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Blackstone Group L.P. and related companies with MarketBeat.com’s FREE daily email newsletter.

Related posts

Leave a Comment