Burleson & Company LLC Acquires Shares of 1,042 The Blackstone Group Inc. (NYSE:BX)

Burleson & Company LLC bought a new position in shares of The Blackstone Group Inc. (NYSE:BX) in the first quarter, HoldingsChannel reports. The institutional investor bought 1,042 shares of the asset manager’s stock, valued at approximately $78,000.

Other hedge funds also recently made changes to their positions in the company. Avidian Wealth Solutions LLC lifted its position in shares of The Blackstone Group by 0.8% during 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 shares of The Blackstone Group by 0.4% during the first quarter. Wintrust Investments LLC now owns 27,897 shares of the asset manager’s stock valued at $2,079,000 after purchasing an additional 122 shares during the period. Hallmark Capital Management Inc. grew its stake in shares of 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 buying an additional 128 shares during the period. Pinnacle Financial Partners Inc. increased its position 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 buying an additional 130 shares in the last quarter. Finally, Compass Ion Advisors LLC raised its stake in The Blackstone Group by 0.6% during the 1st quarter. Compass Ion Advisors LLC now owns 24,272 shares of the asset manager’s stock worth $1,809,000 after buying an additional 133 shares during the period. 60.72% of the stock is owned by institutional investors and hedge funds.

In other The Blackstone Group news, major shareholder Lifesciences Iii L.P. Clarus bought 30,000 shares of the business’s stock in a transaction on Tuesday, May 11th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $510,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Hamilton E. James sold 78,947 shares of The Blackstone Group stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $88.34, for a total transaction of $6,974,177.98. Following the completion of the transaction, the insider now owns 921,053 shares of the company’s stock, valued at approximately $81,365,822.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,047,577 shares of company stock worth $147,529,685. 1.00% of the stock is owned by company insiders.

Several equities research analysts have recently commented on BX shares. Barclays boosted their price objective on The Blackstone Group from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, April 19th. Argus raised 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. Morgan Stanley lifted their price objective on shares of The Blackstone Group from $90.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, April 23rd. Oppenheimer restated a “market perform” rating on shares of The Blackstone Group in a report on Wednesday, March 24th. Finally, Zacks Investment Research upgraded The Blackstone Group from a “hold” rating to a “strong-buy” rating and set a $100.00 price target for the company in a research note on Tuesday, April 27th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $78.09.

Shares of NYSE:BX opened at $93.66 on Friday. The company has a market cap of $64.09 billion, a P/E ratio of 17.12, a PEG ratio of 1.29 and a beta of 1.35. The Blackstone Group Inc. has a 1 year low of $49.26 and a 1 year high of $95.18. 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 company has a fifty day simple moving average of $86.35.

The Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.24. The company had revenue of $2.05 billion during 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 prior year, the business earned $0.46 earnings per share. On average, sell-side analysts forecast that The Blackstone Group Inc. will post 3.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 10th. Investors of record on Monday, May 3rd were issued a $0.82 dividend. 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 3.50%. 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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