The Blackstone Group (NYSE:BX) Sets New 12-Month High at $76.30


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The Blackstone Group Inc. (NYSE:BX)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $76.30 and last traded at $76.30, with a volume of 40179 shares changing hands. The stock had previously closed at $75.23.

A number of analysts recently commented on BX shares. Oppenheimer reiterated a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Barclays upped their price objective on The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft upped their price target on The Blackstone Group from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. They noted that the move was a valuation call. Morgan Stanley upped their price target on The Blackstone Group from $84.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Finally, Credit Suisse Group upped their price target on The Blackstone Group from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The Blackstone Group has a consensus rating of “Buy” and an average target price of $68.96.

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day moving average of $71.82 and a 200-day moving average of $63.18. The stock has a market cap of $52.19 billion, a PE ratio of 70.31 and a beta of 1.33.

The Blackstone Group (NYSE:BX) last released its earnings results on Tuesday, January 26th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.20. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 73.5% compared to the same quarter last year. Equities analysts forecast that The Blackstone Group Inc. will post 2.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 8th were given a dividend of $0.7175 per share. The ex-dividend date was Friday, February 5th. This represents a $2.87 annualized dividend and a dividend yield of 3.76%. This is a boost from The Blackstone Group’s previous quarterly dividend of $0.54. The Blackstone Group’s dividend payout ratio (DPR) is currently 166.23%.

In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the stock in a transaction that occurred on Wednesday, March 24th. The stock was sold at an average price of $37.00, for a total transaction of $87,713,384.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Neville Rodie & Shaw Inc. lifted its stake in shares of The Blackstone Group by 4.4% in the 1st quarter. Neville Rodie & Shaw Inc. now owns 202,539 shares of the asset manager’s stock valued at $15,095,000 after purchasing an additional 8,610 shares during the last quarter. Old Port Advisors lifted its stake in shares of The Blackstone Group by 3.8% in the 1st quarter. Old Port Advisors now owns 4,696 shares of the asset manager’s stock valued at $350,000 after purchasing an additional 173 shares during the last quarter. Chesley Taft & Associates LLC lifted its stake in shares of The Blackstone Group by 80.5% in the 1st quarter. Chesley Taft & Associates LLC now owns 78,282 shares of the asset manager’s stock valued at $5,871,000 after purchasing an additional 34,920 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of The Blackstone Group by 8.8% in the 1st quarter. Private Trust Co. NA now owns 11,887 shares of the asset manager’s stock valued at $885,000 after purchasing an additional 962 shares during the last quarter. Finally, LVM Capital Management Ltd. MI bought a new stake in shares of The Blackstone Group in the 1st quarter valued at approximately $209,000. 59.77% of the stock is owned by institutional investors.

About The Blackstone Group (NYSE:BX)

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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