Financial Architects Inc Invests $488,000 in Blackstone Group LP (NYSE:BX)

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Financial Architects Inc bought a new position in Blackstone Group LP (NYSE:BX) during the third quarter, HoldingsChannel.com reports. The fund bought 9,984 shares of the asset manager’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Cypress Capital Management LLC WY purchased a new stake in shares of Blackstone Group during the second quarter valued at $25,000. Burt Wealth Advisors purchased a new stake in shares of Blackstone Group during the third quarter valued at $26,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Blackstone Group during the third quarter valued at $28,000. Centaurus Financial Inc. boosted its position in shares of Blackstone Group by 194.0% during the first quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock valued at $30,000 after buying an additional 683 shares during the last quarter. Finally, Hartford Financial Management Inc. purchased a new stake in shares of Blackstone Group during the third quarter valued at $30,000. 48.40% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. ValuEngine cut Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Oppenheimer cut Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective (up from $57.00) on shares of Blackstone Group in a research report on Friday, October 25th. BMO Capital Markets increased their price objective on Blackstone Group from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Finally, S&P Equity Research cut Blackstone Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.63.

Shares of NYSE:BX opened at $52.63 on Friday. The stock has a market capitalization of $34.26 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.61 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 1.05. The stock’s 50-day simple moving average is $50.01 and its two-hundred day simple moving average is $46.59. Blackstone Group LP has a 52-week low of $26.88 and a 52-week high of $55.17.

Blackstone Group (NYSE:BX) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Blackstone Group had a return on equity of 7.61% and a net margin of 27.05%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. As a group, equities analysts forecast that Blackstone Group LP will post 2.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.72%. This is a boost from Blackstone Group’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, November 1st. Blackstone Group’s dividend payout ratio (DPR) is presently 86.73%.

In other news, major shareholder Blackstone Group Inc bought 77,743 shares of the company’s stock in a transaction on Monday, August 19th. The shares were acquired at an average cost of $7.80 per share, with a total value of $606,395.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joan Solotar sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $53.83, for a total value of $1,345,750.00. Following the completion of the transaction, the insider now directly owns 235,803 shares in the company, valued at $12,693,275.49. The disclosure for this sale can be found here. Over the last three months, insiders acquired 653,743 shares of company stock worth $6,349,325 and sold 16,887,858 shares worth $589,315,400. Company insiders own 1.00% of the company’s stock.

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.

Read More: Cost of Capital Explained

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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

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