Vectors Research Management LLC raised its holdings in shares of The Blackstone Group Inc. (NYSE:BX) by 127.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,988 shares of the asset manager’s stock after acquiring an additional 2,238 shares during the quarter. Vectors Research Management LLC’s holdings in The Blackstone Group were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. Morgan Stanley grew its position in shares of The Blackstone Group by 2.2% in the third quarter. Morgan Stanley now owns 18,896,315 shares of the asset manager’s stock valued at $986,388,000 after purchasing an additional 400,764 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of The Blackstone Group by 129.6% in the third quarter. CIBC Private Wealth Group LLC now owns 6,974,617 shares of the asset manager’s stock worth $364,074,000 after buying an additional 3,937,002 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of The Blackstone Group by 8.5% in the third quarter. Wells Fargo & Company MN now owns 5,438,533 shares of the asset manager’s stock valued at $283,892,000 after acquiring an additional 428,199 shares during the period. Alps Advisors Inc. grew its stake in The Blackstone Group by 3,305.9% during the third quarter. Alps Advisors Inc. now owns 3,487,000 shares of the asset manager’s stock valued at $5,524,000 after acquiring an additional 3,384,618 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in The Blackstone Group by 3.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,771,177 shares of the asset manager’s stock worth $92,455,000 after acquiring an additional 58,509 shares during the period. Hedge funds and other institutional investors own 59.77% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of The Blackstone Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, January 12th. BMO Capital Markets boosted their target price on The Blackstone Group from $63.00 to $72.00 and gave the stock a “market perform” rating in a research report on Thursday, January 28th. Barclays raised their price target on The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Credit Suisse Group boosted their price objective on The Blackstone Group from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Morgan Stanley raised their target price on shares of The Blackstone Group from $68.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, January 26th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The Blackstone Group currently has an average rating of “Buy” and an average target price of $66.79.
The Blackstone Group (NYSE:BX) last issued its earnings results on Tuesday, January 26th. The asset manager reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.20. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The Blackstone Group’s revenue for the quarter was up 73.5% compared to the same quarter last year. As a group, equities analysts expect that The Blackstone Group Inc. will post 2.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 8th were issued a dividend of $0.7175 per share. The ex-dividend date was Friday, February 5th. This is a boost from The Blackstone Group’s previous quarterly dividend of $0.54. This represents a $2.87 annualized dividend and a yield of 4.13%. The Blackstone Group’s dividend payout ratio is currently 166.23%.
In other news, major shareholder Blackstone Bdc Holdings Llc purchased 997,940 shares of the company’s stock in a transaction on Thursday, January 7th. The stock was acquired at an average price of $25.00 per share, with a total value of $24,948,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Blackstone III purchased 42,425 shares of the business’s stock in a transaction on Monday, January 4th. The stock was purchased at an average cost of $34.93 per share, for a total transaction of $1,481,905.25. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
About The Blackstone Group
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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