Kimelman & Baird LLC bought a new stake in Blackstone Group LP (NYSE:BX) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 330,650 shares of the asset manager’s stock, valued at approximately $16,149,000. Blackstone Group accounts for 2.2% of Kimelman & Baird LLC’s investment portfolio, making the stock its 19th largest holding. Kimelman & Baird LLC owned about 0.05% of Blackstone Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BX. Cypress Capital Management LLC WY acquired a new position in Blackstone Group during the second quarter worth $25,000. Burt Wealth Advisors acquired a new position in Blackstone Group during the third quarter worth $26,000. Lenox Wealth Advisors LLC acquired a new position in Blackstone Group during the third quarter worth $28,000. Hartford Financial Management Inc. purchased a new stake in shares of Blackstone Group during the third quarter worth $30,000. Finally, TCI Wealth Advisors Inc. purchased a new stake in shares of Blackstone Group during the third quarter worth $32,000. Hedge funds and other institutional investors own 53.47% of the company’s stock.

Shares of Blackstone Group stock traded up $0.23 during trading hours on Tuesday, reaching $54.37. 301,789 shares of the company’s stock were exchanged, compared to its average volume of 4,927,914. Blackstone Group LP has a 1 year low of $26.88 and a 1 year high of $55.17. The company has a market capitalization of $35.55 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The business has a fifty day moving average of $52.53 and a two-hundred day moving average of $48.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Blackstone Group’s quarterly revenue was down 9.9% on a year-over-year basis. As a group, research analysts predict that Blackstone Group LP will post 2.28 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.48. Blackstone Group’s dividend payout ratio is currently 86.73%.

In related news, major shareholder Holdings L.P. Blackstone III sold 6,864,545 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $35.54, for a total value of $243,965,929.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joan Solotar sold 25,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $53.83, for a total transaction of $1,345,750.00. Following the completion of the sale, the insider now directly owns 235,803 shares of the company’s stock, valued at approximately $12,693,275.49. The disclosure for this sale can be found here. Insiders sold 25,763,069 shares of company stock valued at $611,503,428 in the last three months. 1.00% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on BX shares. Barclays set a $53.00 target price on shares of Blackstone Group and gave the stock a “buy” rating in a report on Friday, October 11th. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. They noted that the move was a valuation call. BMO Capital Markets started coverage on shares of Blackstone Group in a report on Monday, October 7th. They set a “market perform” rating and a $44.00 target price for the company. Finally, Citigroup lowered shares of Blackstone Group from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Wednesday, September 18th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Blackstone Group currently has a consensus rating of “Hold” and a consensus price target of $52.25.

About Blackstone Group

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.

Further Reading: What is an investor looking for in an SEC filing?

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

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