Bridgecreek Investment Management LLC cut its position in shares of Blackstone Group LP (NYSE:BX) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,360 shares of the asset manager’s stock after selling 2,500 shares during the quarter. Bridgecreek Investment Management LLC’s holdings in Blackstone Group were worth $5,359,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BX. Wealthcare Advisory Partners LLC purchased a new stake in shares of Blackstone Group in the third quarter worth about $131,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Blackstone Group in the fourth quarter worth about $160,000. Jacobi Capital Management LLC boosted its position in shares of Blackstone Group by 65.6% in the third quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock worth $192,000 after buying an additional 2,287 shares during the period. Strategic Financial Group LLC purchased a new stake in shares of Blackstone Group in the third quarter worth about $200,000. Finally, New England Private Wealth Advisors LLC purchased a new stake in shares of Blackstone Group in the third quarter worth about $200,000. Institutional investors own 48.08% of the company’s stock.
In other Blackstone Group news, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $31.64, for a total transaction of $632,800.00. Following the sale, the insider now owns 87,852 shares in the company, valued at $2,779,637.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the sale, the insider now owns 87,852 shares in the company, valued at approximately $2,811,264. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Blackstone Group LP (BX) opened at $33.90 on Friday. The company has a market capitalization of $23,372.23, a PE ratio of 12.44, a P/E/G ratio of 1.18 and a beta of 1.31. Blackstone Group LP has a 1-year low of $28.45 and a 1-year high of $37.52. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Blackstone Group’s revenue for the quarter was up 19.9% compared to the same quarter last year. equities analysts forecast that Blackstone Group LP will post 3.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $3.40 annualized dividend and a yield of 10.03%. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio is presently 80.73%.
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Blackstone Group Profile
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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