Bank Hapoalim BM increased its holdings in Blackstone Group LP (NYSE:BX) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,249 shares of the asset manager’s stock after acquiring an additional 3,217 shares during the period. Bank Hapoalim BM’s holdings in Blackstone Group were worth $2,492,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of BX. Alethea Capital Management LLC purchased a new stake in Blackstone Group in the 1st quarter valued at about $210,000. Raymond James Financial Services Advisors Inc. increased its stake in Blackstone Group by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 436,951 shares of the asset manager’s stock valued at $15,280,000 after buying an additional 3,800 shares during the last quarter. Seelaus Asset Management LLC purchased a new stake in Blackstone Group in the 1st quarter valued at about $336,000. Moors & Cabot Inc. increased its stake in Blackstone Group by 7.0% in the 1st quarter. Moors & Cabot Inc. now owns 107,868 shares of the asset manager’s stock valued at $3,763,000 after buying an additional 7,068 shares during the last quarter. Finally, Cpwm LLC purchased a new stake in Blackstone Group in the 1st quarter valued at about $202,000. Institutional investors own 51.35% of the company’s stock.
BX has been the subject of several analyst reports. Morgan Stanley increased their price objective on shares of Blackstone Group from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. They noted that the move was a valuation call. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Finally, Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Blackstone Group has an average rating of “Buy” and an average target price of $43.29.
Shares of BX stock opened at $39.39 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.75. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $40.75. The company has a market cap of $25.89 billion, a PE ratio of 17.43, a P/E/G ratio of 4.22 and a beta of 1.47.
Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.08). Blackstone Group had a return on equity of 12.74% and a net margin of 23.35%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that Blackstone Group LP will post 2.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $1.48 annualized dividend and a dividend yield of 3.76%. Blackstone Group’s payout ratio is currently 65.49%.
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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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