Punch & Associates Investment Management Inc. Buys New Holdings in The Blackstone Group Inc. (NYSE:BX)

Punch & Associates Investment Management Inc. bought a new stake in The Blackstone Group Inc. (NYSE:BX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,937 shares of the asset manager’s stock, valued at approximately $219,000.

Other large investors have also recently modified their holdings of the company. Avidian Wealth Solutions LLC raised its holdings in The Blackstone Group by 0.8% in the 1st quarter. Avidian Wealth Solutions LLC now owns 14,866 shares of the asset manager’s stock valued at $1,108,000 after acquiring an additional 116 shares during the period. Wintrust Investments LLC raised its holdings in The Blackstone Group by 0.4% in the 1st quarter. Wintrust Investments LLC now owns 27,897 shares of the asset manager’s stock valued at $2,079,000 after acquiring an additional 122 shares during the period. Capital Management Associates NY raised its holdings in The Blackstone Group by 0.3% in the 1st quarter. Capital Management Associates NY now owns 45,863 shares of the asset manager’s stock valued at $3,418,000 after acquiring an additional 125 shares during the period. Hallmark Capital Management Inc. raised its holdings in The Blackstone Group by 2.2% in the 1st quarter. Hallmark Capital Management Inc. now owns 5,878 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 128 shares during the period. Finally, Pinnacle Financial Partners Inc. raised its holdings in The Blackstone Group by 0.3% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 38,240 shares of the asset manager’s stock valued at $2,850,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 60.65% of the company’s stock.

In other news, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the stock in a transaction that occurred on Tuesday, July 20th. The stock was acquired at an average price of $16.00 per share, with a total value of $2,400,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 33,404 shares of The Blackstone Group stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $89.88, for a total transaction of $3,002,351.52. Following the transaction, the insider now directly owns 363,489 shares of the company’s stock, valued at approximately $32,670,391.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,656,272 shares of company stock worth $230,663,723. 1.00% of the stock is owned by company insiders.

BX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of The Blackstone Group from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, July 12th. They noted that the move was a valuation call. Morgan Stanley raised their target price on shares of The Blackstone Group from $98.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of The Blackstone Group in a research note on Wednesday, March 24th. Citigroup lifted their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. Finally, Argus lifted their price objective on shares of The Blackstone Group from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The Blackstone Group has a consensus rating of “Buy” and a consensus target price of $86.42.

Shares of The Blackstone Group stock opened at $105.79 on Thursday. The Blackstone Group Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $106.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $72.38 billion, a price-to-earnings ratio of 32.97 and a beta of 1.34. The company has a 50 day moving average of $95.74.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Wednesday, April 21st. The asset manager reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.24. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.65 billion. The Blackstone Group had a net margin of 26.66% and a return on equity of 15.52%. During the same quarter in the previous year, the business earned $0.46 earnings per share. Research analysts expect that The Blackstone Group Inc. will post 3.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, April 30th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.10%. The Blackstone Group’s dividend payout ratio (DPR) is presently 123.77%.

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

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