GWM Advisors LLC Acquires Shares of 13,533 Blackstone Group LP (BX)

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GWM Advisors LLC acquired a new stake in Blackstone Group LP (NYSE:BX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,533 shares of the asset manager’s stock, valued at approximately $123,000.

A number of other large investors have also recently bought and sold shares of the stock. Birinyi Associates Inc. boosted its position in shares of Blackstone Group by 11.0% during the 1st quarter. Birinyi Associates Inc. now owns 47,775 shares of the asset manager’s stock worth $1,671,000 after purchasing an additional 4,750 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Blackstone Group by 5.2% during the 1st quarter. Hollencrest Capital Management now owns 62,978 shares of the asset manager’s stock worth $2,203,000 after purchasing an additional 3,096 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Blackstone Group by 20.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 239,197 shares of the asset manager’s stock worth $8,365,000 after purchasing an additional 40,753 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its position in shares of Blackstone Group by 12.1% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 172,762 shares of the asset manager’s stock worth $6,041,000 after purchasing an additional 18,620 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in shares of Blackstone Group by 15.7% during the 1st quarter. National Asset Management Inc. now owns 27,818 shares of the asset manager’s stock worth $973,000 after purchasing an additional 3,775 shares in the last quarter. Hedge funds and other institutional investors own 49.87% of the company’s stock.

In other news, major shareholder Holdings L.P. Blackstone III bought 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $24.22 per share, with a total value of $2,906,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bennett J. Goodman sold 115,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total transaction of $4,551,700.00. Following the completion of the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The disclosure for this sale can be found here. Insiders have bought a total of 1,254,188 shares of company stock valued at $30,201,534 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

BX has been the topic of several research analyst reports. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Morgan Stanley boosted their target price on shares of Blackstone Group from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Blackstone Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $43.29.

NYSE:BX opened at $40.65 on Friday. The firm has a market cap of $26.77 billion, a PE ratio of 17.99, a PEG ratio of 4.46 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Blackstone Group LP has a 52-week low of $26.88 and a 52-week high of $42.12.

Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.48 billion. Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, analysts expect that Blackstone Group LP will post 2.35 EPS for the current fiscal year.

The company 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. This represents a $1.48 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Friday, April 26th. Blackstone Group’s dividend payout ratio (DPR) is presently 65.49%.

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Blackstone Group Company Profile

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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Institutional Ownership by Quarter for Blackstone Group (NYSE:BX)

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