Valley Brook Capital Group bought a new stake in shares of The Blackstone Group Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 525 shares of the asset manager’s stock, valued at approximately $34,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. D1 Capital Partners L.P. purchased a new position in The Blackstone Group in the 4th quarter worth about $81,661,000. Morgan Stanley increased its position in shares of The Blackstone Group by 5.9% during the fourth quarter. Morgan Stanley now owns 20,017,438 shares of the asset manager’s stock worth $1,297,331,000 after acquiring an additional 1,121,123 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of The Blackstone Group by 46.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,594,027 shares of the asset manager’s stock valued at $168,119,000 after acquiring an additional 822,850 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of The Blackstone Group during the fourth quarter valued at approximately $47,854,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of The Blackstone Group in the fourth quarter valued at approximately $45,179,000. Hedge funds and other institutional investors own 59.77% of the company’s stock.
Shares of BX stock opened at $75.23 on Thursday. 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 company has a market cap of $51.45 billion, a price-to-earnings ratio of 70.31 and a beta of 1.33. The stock’s fifty day moving average price is $71.82 and its 200 day moving average price is $63.18. The Blackstone Group Inc. has a 1-year low of $45.05 and a 1-year high of $76.25.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Monday, February 8th were paid a $0.7175 dividend. This represents a $2.87 annualized dividend and a dividend yield of 3.81%. This is a boost from The Blackstone Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, February 5th. The Blackstone Group’s dividend payout ratio (DPR) is presently 166.23%.
In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the firm’s stock in a transaction on Wednesday, March 24th. The shares were sold at an average price of $37.00, for a total transaction of $87,713,384.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on BX. Oppenheimer reaffirmed a “market perform” rating on shares of The Blackstone Group in a research report on Wednesday, March 24th. Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a report on Tuesday, March 16th. Morgan Stanley increased their target price on shares of The Blackstone Group from $84.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Barclays boosted their price target on shares of The Blackstone Group from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Blackstone Group from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.96.
The Blackstone Group Profile
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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