Blackstone Group Inc. (NYSE: BX) Vice President Sells $ 413,346,223.05 in Shares
Blackstone Group Inc. (NYSE: BX) vice president Hamilton E. James sold 3,074,349 shares of the company in a transaction dated Tuesday, December 7. The shares were sold for an average price of $ 134.45, for a total value of $ 413,346,223.05. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link.
NYSE BX shares traded up $ 4.61 in the midday session Tuesday, reaching $ 139.33. The company’s shares had a trading volume of 3,027,424 shares, compared to its average volume of 3,482,387. The Blackstone Group Inc. has a 52-week low of $ 61.27 and a high of 149.78 $ over 52 weeks. The company has a market cap of $ 95.70 billion, a P / E ratio of 19.11, a P / E / G ratio of 1.29 and a beta of 1.39. The company has a debt to equity ratio of 0.36, a quick ratio of 0.96, and a current ratio of 0.96. The company’s 50-day average mobile price is $ 134.43, and its two-hundred-day average mobile price is $ 118.37.
The Blackstone Group (NYSE: BX) last reported its quarterly results on Wednesday, October 20. The asset manager reported earnings per share of $ 1.28 for the quarter, beating the consensus estimate of $ 0.91 by $ 0.37. The Blackstone Group had a net margin of 25.47% and a return on equity of 16.95%. The company posted revenue of $ 6.22 billion for the quarter, compared to analysts’ estimates of $ 2.17 billion. In the same quarter of the previous year, the company made a profit of $ 0.63 per share. The company’s quarterly revenue is up 105.2% from the same quarter last year. Analysts on the seller’s side predict that The Blackstone Group Inc. will post earnings per share of 4.35 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 8. Shareholders of record on Monday, November 1 received a dividend of $ 1.0275. This represents an annualized dividend of $ 4.11 and a return of 2.95%. This is an increase from The Blackstone Group’s previous quarterly dividend of $ 0.70. The ex-dividend date of this dividend was Friday October 29. The Blackstone Group Dividend Payout Ratio (DPR) is currently 59.81%.
BX has been the subject of several recent analyst reports. Zacks Investment Research downgraded the Blackstone Group from a “buy” rating to a “hold” rating and set a price target of $ 139.00 for the company. in a research note on Tuesday, September 14. Bank of America launched a cover on The Blackstone Group in a research note on Thursday, November 4. They set a “buy” rating and a price target of $ 182.00 for the company. Citigroup raised its price target on The Blackstone Group from $ 114.50 to $ 141.00 and rated the stock “neutral” in a research note on Tuesday, October 26. BMO Capital Markets raised its price target on The Blackstone Group from $ 96.00 to $ 114.00 and assigned the stock a “market performance” rating in a research report released on Friday, October 22. They noted that the move was an appraisal call. Finally, Morgan Stanley raised its price target on The Blackstone Group from $ 134.00 to $ 180.00 and assigned the company an “overweight” rating in a report released on Tuesday, October 26. Five research analysts rated the stock with a conservation rating and seven issued a buy rating for the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $ 124.18.
Several institutional investors have recently bought and sold shares in the company. Bell Investment Advisors Inc purchased a new position in The Blackstone Group in the third quarter valued at approximately $ 26,000. Meeder Asset Management Inc. increased its position in The Blackstone Group shares by 101.4% in the second quarter. Meeder Asset Management Inc. now owns 288 shares of the asset manager valued at $ 28,000 after acquiring 145 additional shares in the last quarter. Harvest Fund Management Co. Ltd. purchased a new position in shares of The Blackstone Group during the second quarter valued at $ 32,000. Assetmark Inc. increased its position in The Blackstone Group by 86.1% during the third quarter. Assetmark Inc. now owns 294 shares of the asset manager valued at $ 34,000 after purchasing 136 additional shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in The Blackstone Group shares by 96.8% in the third quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager valued at $ 35,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors hold 63.14% of the company’s shares.
About the Blackstone Group
Blackstone, Inc provides investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. Private Equity segment includes flagship corporate private equity funds, Blackstone Capital Partners funds, industry focused corporate private equity funds including energy focused funds, Blackstone Energy funds Partners and the core private equity fund, Blackstone Core Equity Partners.
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