Trade Report: Today: Sigma Planning Corp Sold shares of Blackstone Group L.P. (BX)

Today: Sigma Planning Corp Sold shares of Blackstone Group L.P. (BX)

Sigma Planning Corp decreased its stake in Blackstone Group L.P. (NYSE:BX) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 30,262 shares of the company’s stock after selling 817 shares during the period. Sigma Planning Corp’s holdings in Blackstone Group L.P. were worth $773,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Renaissance Investment Group LLC raised its stake in shares of Blackstone Group L.P. by 8.9% in the second quarter. Renaissance Investment Group LLC now owns 126,936 shares of the company’s stock valued at $3,115,000 after buying an additional 10,325 shares during the period. Adirondack Trust Co. raised its stake in shares of 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 during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Blackstone Group L.P. during the second quarter valued at about $499,000. River & Mercantile Asset Management LLP raised its stake in shares of Blackstone Group L.P. by 96.1% in the second quarter. River & Mercantile Asset Management LLP now owns 85,718 shares of the company’s stock valued at $2,103,000 after buying an additional 42,000 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Blackstone Group L.P. by 13.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 333,223 shares of the company’s stock valued at $8,177,000 after buying an additional 38,801 shares during the period. 49.06% of the stock is owned by hedge funds and other institutional investors.

Shares of Blackstone Group L.P. (NYSE:BX) opened at 26.55 on Monday. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $31.87. The company has a market capitalization of $16.75 billion, a PE ratio of 22.12 and a beta of 1.46. The stock has a 50 day moving average price of $24.76 and a 200-day moving average price of $25.76.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were given a $0.41 dividend. This is a positive change from Blackstone Group L.P.’s previous quarterly dividend of $0.36. This represents a $1.64 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Thursday, November 3rd. Blackstone Group L.P.’s dividend payout ratio is 133.33%.

Several brokerages have issued reports on BX. Vetr lowered Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $31.48 price target for the company. in a research note on Thursday, August 18th. Barclays PLC lifted their price objective on Blackstone Group L.P. from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Jefferies Group lifted their price objective on Blackstone Group L.P. from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Credit Suisse Group AG reiterated a “buy” rating and issued a $35.00 price objective on shares of Blackstone Group L.P. in a report on Sunday, September 11th. Finally, Zacks Investment Research upgraded Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, October 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.84.

In other news, insider Kathleen Skero sold 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the transaction, the insider now directly owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $22.66, for a total transaction of $220,443,210.02. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Group L.P. Company Profile

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.

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