Integrated Advisors Network LLC lessened its position in The Blackstone Group Inc. (NYSE:BX) by 94.4% during the 3rd quarter, Holdings Channel reports. The firm owned 28,657 shares of the asset manager’s stock after selling 482,689 shares during the quarter. Integrated Advisors Network LLC’s holdings in The Blackstone Group were worth $1,496,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Laidlaw Wealth Management LLC raised its holdings in shares of The Blackstone Group by 6,709.9% in the second quarter. Laidlaw Wealth Management LLC now owns 1,396,497 shares of the asset manager’s stock valued at $25,000 after buying an additional 1,375,990 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of The Blackstone Group in the second quarter valued at about $26,000. Laurel Wealth Advisors LLC bought a new position in shares of The Blackstone Group in the second quarter valued at about $26,000. Beese Fulmer Investment Management Inc. bought a new position in shares of The Blackstone Group in the second quarter valued at about $27,000. Finally, Evolution Wealth Advisors LLC raised its holdings in shares of The Blackstone Group by 152.5% in the second quarter. Evolution Wealth Advisors LLC now owns 500 shares of the asset manager’s stock valued at $28,000 after buying an additional 302 shares during the last quarter. Institutional investors own 59.47% of the company’s stock.
In related news, insider John G. Finley sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $54.07, for a total value of $2,162,800.00. Following the completion of the transaction, the insider now directly owns 211,880 shares in the company, valued at approximately $11,456,351.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Blackstone Bdc Holdings Llc acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was acquired at an average price of $25.00 per share, with a total value of $50,000.00. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
Shares of BX stock traded down $0.28 on Tuesday, reaching $56.81. The company had a trading volume of 17,903 shares, compared to its average volume of 4,499,089. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The stock has a market cap of $38.48 billion, a PE ratio of 53.36 and a beta of 1.29. The company has a 50-day moving average of $54.16 and a 200-day moving average of $54.18. The Blackstone Group Inc. has a 12 month low of $33.00 and a 12 month high of $64.97.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Wednesday, October 28th. The asset manager reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $1.42 billion. The business’s revenue was up 74.8% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Sell-side analysts anticipate that The Blackstone Group Inc. will post 2.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 16th. Investors of record on Monday, November 9th were given a $0.54 dividend. The ex-dividend date was Friday, November 6th. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.37. This represents a $2.16 annualized dividend and a dividend yield of 3.80%. The Blackstone Group’s payout ratio is currently 93.51%.
A number of research analysts recently issued reports on the company. TheStreet raised The Blackstone Group from a “c” rating to a “b” rating in a report on Thursday, July 23rd. BMO Capital Markets boosted their price objective on The Blackstone Group from $50.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, October 29th. Oppenheimer raised The Blackstone Group from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Thursday, October 29th. William Blair reissued an “outperform” rating on shares of The Blackstone Group in a report on Thursday, July 23rd. Finally, UBS Group dropped their price objective on The Blackstone Group from $65.00 to $63.00 and set a “buy” rating for the company in a report on Monday, July 27th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The Blackstone Group presently has a consensus rating of “Buy” and an average price target of $60.77.
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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