National Asset Management Inc. lowered its stake in shares of The Blackstone Group Inc. (NYSE:BX) by 21.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,468 shares of the asset manager’s stock after selling 16,004 shares during the quarter. National Asset Management Inc.’s holdings in The Blackstone Group were worth $5,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waddell & Reed Financial Inc. increased its position in shares of The Blackstone Group by 21.2% during the first quarter. Waddell & Reed Financial Inc. now owns 1,658,777 shares of the asset manager’s stock valued at $123,629,000 after buying an additional 290,433 shares during the period. Cadinha & Co. LLC purchased a new stake in The Blackstone Group in the first quarter worth about $17,545,000. Resources Investment Advisors LLC. lifted its stake in shares of The Blackstone Group by 2.6% in the first quarter. Resources Investment Advisors LLC. now owns 44,885 shares of the asset manager’s stock worth $3,345,000 after buying an additional 1,137 shares in the last quarter. Forsta AP Fonden lifted its stake in shares of The Blackstone Group by 0.9% in the first quarter. Forsta AP Fonden now owns 130,500 shares of the asset manager’s stock worth $9,726,000 after buying an additional 1,100 shares in the last quarter. Finally, Ashfield Capital Partners LLC lifted its stake in shares of The Blackstone Group by 4.3% in the second quarter. Ashfield Capital Partners LLC now owns 49,234 shares of the asset manager’s stock worth $4,783,000 after buying an additional 2,033 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.
Several brokerages have recently issued reports on BX. Argus upped their target price on shares of The Blackstone Group from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. increased their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, July 12th. Deutsche Bank Aktiengesellschaft upgraded shares of The Blackstone Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $103.00 to $135.00 in a research report on Wednesday, August 11th. Zacks Investment Research downgraded shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective on the stock. in a research report on Tuesday. Finally, Citigroup increased their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, July 12th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Blackstone Group currently has a consensus rating of “Buy” and a consensus price target of $98.55.
BX traded up $0.41 on Wednesday, reaching $131.01. 11,868 shares of the company traded hands, compared to its average volume of 3,329,406. The Blackstone Group Inc. has a one year low of $49.26 and a one year high of $132.33. The firm has a fifty day simple moving average of $115.08 and a two-hundred day simple moving average of $95.55. The company has a market cap of $89.87 billion, a P/E ratio of 20.15 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Wednesday, July 21st. The asset manager reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business posted $0.43 EPS. The firm’s revenue for the quarter was up 90.3% on a year-over-year basis. On average, equities analysts forecast that The Blackstone Group Inc. will post 3.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were given a dividend of $0.8475 per share. This represents a $3.39 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, July 30th. The Blackstone Group’s dividend payout ratio (DPR) is 105.66%.
The Blackstone Group Profile
The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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