National Asset Management Inc. boosted its position in Blackstone Group LP (NYSE:BX) by 20.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,888 shares of the asset manager’s stock after purchasing an additional 4,487 shares during the quarter. National Asset Management Inc.’s holdings in Blackstone Group were worth $898,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobi Capital Management LLC bought a new position in shares of Blackstone Group during the second quarter valued at $116,000. Omnia Family Wealth LLC increased its holdings in shares of Blackstone Group by 0.5% during the second quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares in the last quarter. Pathstone Family Office LLC bought a new position in shares of Blackstone Group during the second quarter valued at $167,000. Peddock Capital Advisors LLC bought a new position in shares of Blackstone Group during the second quarter valued at $187,000. Finally, Somerset Group LLC bought a new position in shares of Blackstone Group during the second quarter valued at $200,000. Institutional investors and hedge funds own 46.91% of the company’s stock.
Shares of Blackstone Group LP (NYSE:BX) opened at $32.11 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. Blackstone Group LP has a 12-month low of $25.82 and a 12-month high of $35.09. The company has a market capitalization of $19,918.00, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were given a dividend of $0.44 per share. The ex-dividend date was Friday, October 27th. This represents a $1.76 annualized dividend and a dividend yield of 5.48%. Blackstone Group’s dividend payout ratio (DPR) is presently 76.19%.
Several equities analysts have recently weighed in on BX shares. Vetr upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating and set a $36.77 price target for the company in a report on Thursday, August 10th. BidaskClub downgraded Blackstone Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Credit Suisse Group reduced their price target on Blackstone Group from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Zacks Investment Research downgraded Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Finally, Oppenheimer restated a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and a consensus price target of $38.25.
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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