Slow Capital Inc. Takes Position in Blackstone Group LP (BX)
Slow Capital Inc. acquired a new position in shares of Blackstone Group LP (NYSE:BX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,082 shares of the asset manager’s stock, valued at approximately $643,000.
Several other hedge funds and other institutional investors have also bought and sold shares of BX. Kayne Anderson Capital Advisors LP increased its stake in Blackstone Group by 725.6% during the third quarter. Kayne Anderson Capital Advisors LP now owns 74,300 shares of the asset manager’s stock valued at $2,478,000 after acquiring an additional 65,300 shares during the period. Texas Yale Capital Corp. increased its stake in Blackstone Group by 6.8% during the third quarter. Texas Yale Capital Corp. now owns 134,205 shares of the asset manager’s stock valued at $4,478,000 after acquiring an additional 8,591 shares during the period. D.A. Davidson & CO. increased its stake in Blackstone Group by 17.4% during the third quarter. D.A. Davidson & CO. now owns 91,945 shares of the asset manager’s stock valued at $3,068,000 after acquiring an additional 13,628 shares during the period. ING Groep NV bought a new position in Blackstone Group during the third quarter valued at about $13,348,000. Finally, Stelac Advisory Services LLC bought a new position in Blackstone Group during the third quarter valued at about $919,000. 48.37% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on BX shares. Vetr upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating and set a $35.50 price target on the stock in a research note on Monday, November 27th. JPMorgan Chase & Co. upgraded Blackstone Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $34.53 to $46.00 in a research note on Friday, January 12th. Credit Suisse Group restated a “buy” rating and set a $47.00 price target on shares of Blackstone Group in a research note on Thursday, January 11th. Zacks Investment Research lowered Blackstone Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, ValuEngine upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Blackstone Group presently has an average rating of “Buy” and an average target price of $39.90.
Shares of Blackstone Group stock opened at $33.01 on Thursday. Blackstone Group LP has a 12 month low of $28.85 and a 12 month high of $37.52. The firm has a market capitalization of $22,006.93, a P/E ratio of 15.15, a PEG ratio of 1.13 and a beta of 1.33. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.10.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. Blackstone Group had a return on equity of 22.27% and a net margin of 20.66%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 19.9% compared to the same quarter last year. sell-side analysts predict that Blackstone Group LP will post 3.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th were paid a $0.85 dividend. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 annualized dividend and a dividend yield of 10.30%. The ex-dividend date of this dividend was Friday, February 9th. Blackstone Group’s dividend payout ratio is currently 155.96%.
About Blackstone Group
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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