Blackstone Group LP (NYSE:BX) Major Shareholder Buys $606,395.40 in Stock

Blackstone Group LP (NYSE:BX) major shareholder Blackstone Group Inc bought 77,743 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $7.80 per share, with a total value of $606,395.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Blackstone Group Inc also recently made the following trade(s):

  • On Wednesday, August 21st, Blackstone Group Inc bought 100,000 shares of Blackstone Group stock. The stock was purchased at an average price of $8.37 per share, with a total value of $837,000.00.
  • On Friday, August 16th, Blackstone Group Inc bought 46,500 shares of Blackstone Group stock. The stock was purchased at an average price of $7.98 per share, with a total value of $371,070.00.
  • On Wednesday, August 14th, Blackstone Group Inc bought 79,368 shares of Blackstone Group stock. The stock was purchased at an average price of $7.07 per share, with a total value of $561,131.76.
  • On Monday, August 12th, Blackstone Group Inc bought 100,000 shares of Blackstone Group stock. The stock was purchased at an average price of $7.94 per share, with a total value of $794,000.00.
  • On Friday, August 9th, Blackstone Group Inc bought 64,708 shares of Blackstone Group stock. The stock was purchased at an average price of $7.82 per share, with a total value of $506,016.56.

Blackstone Group stock opened at $49.46 on Thursday. The firm has a 50 day simple moving average of $47.07 and a 200-day simple moving average of $40.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $31.64 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.47. Blackstone Group LP has a 12-month low of $26.88 and a 12-month high of $50.02.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. The business’s revenue was down 43.5% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. On average, analysts forecast that Blackstone Group LP will post 2.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is presently 84.96%.

Several research firms have commented on BX. JMP Securities cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Morgan Stanley upped their target price on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank upped their target price on shares of Blackstone Group from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays began coverage on shares of Blackstone Group in a research report on Monday, August 5th. They issued an “overweight” rating and a $56.00 target price for the company. Finally, Citigroup set a $52.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.10.

Several institutional investors have recently bought and sold shares of BX. Mercer Global Advisors Inc. ADV bought a new stake in shares of Blackstone Group during the 1st quarter worth approximately $216,000. Pennsylvania Trust Co raised its position in Blackstone Group by 23.9% during the 1st quarter. Pennsylvania Trust Co now owns 10,970 shares of the asset manager’s stock valued at $732,000 after purchasing an additional 2,115 shares in the last quarter. Highland Capital Management LLC raised its position in Blackstone Group by 38.1% during the 1st quarter. Highland Capital Management LLC now owns 20,002 shares of the asset manager’s stock valued at $699,000 after purchasing an additional 5,521 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in Blackstone Group during the 1st quarter valued at $2,221,000. Finally, Stony Point Wealth Management Inc. raised its position in Blackstone Group by 3.2% during the 1st quarter. Stony Point Wealth Management Inc. now owns 40,793 shares of the asset manager’s stock valued at $1,427,000 after purchasing an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 45.05% of the company’s stock.

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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