Bard Financial Services Inc. purchased a new position in The Blackstone Group Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,375 shares of the asset manager’s stock, valued at approximately $1,321,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC acquired a new position in shares of The Blackstone Group in the 4th quarter worth approximately $1,394,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of The Blackstone Group in the 4th quarter worth approximately $11,606,000. Arrow Capital Management LLC acquired a new position in shares of The Blackstone Group in the 4th quarter worth approximately $13,099,000. Global Retirement Partners LLC lifted its position in shares of The Blackstone Group by 8.0% in the 4th quarter. Global Retirement Partners LLC now owns 72,667 shares of the asset manager’s stock worth $4,710,000 after purchasing an additional 5,401 shares during the period. Finally, Planned Solutions Inc. lifted its position in shares of The Blackstone Group by 88.2% during the 4th quarter. Planned Solutions Inc. now owns 1,067 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 59.77% of the company’s stock.
BX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Blackstone Group from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of The Blackstone Group from $84.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. Barclays upped their price objective on shares of The Blackstone Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Credit Suisse Group upped their price objective on shares of The Blackstone Group from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Zacks Investment Research downgraded shares of The Blackstone Group from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a report on Tuesday, March 16th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The Blackstone Group currently has an average rating of “Buy” and a consensus price target of $68.96.
NYSE BX opened at $75.23 on Thursday. The Blackstone Group Inc. has a 1 year low of $45.05 and a 1 year high of $76.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $51.45 billion, a price-to-earnings ratio of 70.31 and a beta of 1.33. The company has a fifty day moving average price of $71.82 and a 200-day moving average price of $63.18.
The Blackstone Group (NYSE:BX) last posted its earnings results on Tuesday, January 26th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.20. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s revenue was up 73.5% compared to the same quarter last year. On average, research analysts anticipate that The Blackstone Group Inc. will post 2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Monday, February 8th were paid a $0.7175 dividend. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, February 5th. This represents a $2.87 annualized dividend and a dividend yield of 3.81%. The Blackstone Group’s dividend payout ratio is presently 166.23%.
In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $37.00, for a total transaction of $87,713,384.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
The Blackstone Group Company Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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