Cambridge Investment Research Advisors Inc. lessened its position in shares of The Blackstone Group Inc. (NYSE:BX) by 3.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 320,150 shares of the asset manager’s stock after selling 10,847 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in The Blackstone Group were worth $31,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Marshall Wace LLP purchased a new stake in The Blackstone Group during the 1st quarter worth approximately $50,000. Dimensional Fund Advisors LP raised its position in The Blackstone Group by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 965,124 shares of the asset manager’s stock worth $62,550,000 after acquiring an additional 123,828 shares during the period. Victory Capital Management Inc. raised its position in The Blackstone Group by 8.4% during the first quarter. Victory Capital Management Inc. now owns 530,711 shares of the asset manager’s stock worth $39,554,000 after acquiring an additional 41,052 shares during the period. Envestnet Asset Management Inc. raised its position in The Blackstone Group by 27.1% during the first quarter. Envestnet Asset Management Inc. now owns 224,384 shares of the asset manager’s stock worth $16,723,000 after acquiring an additional 47,900 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in The Blackstone Group by 14.2% during the first quarter. Cullen Frost Bankers Inc. now owns 63,339 shares of the asset manager’s stock worth $4,721,000 after acquiring an additional 7,897 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.
In related news, major shareholder Holdings L.P. Blackstone II sold 335,000 shares of The Blackstone Group stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $60.00, for a total value of $20,100,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the firm’s stock in a transaction on Tuesday, July 20th. The shares were bought at an average price of $16.00 per share, for a total transaction of $2,400,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 508,477 shares of company stock worth $40,210,412. 1.00% of the stock is owned by corporate insiders.
Shares of NYSE:BX opened at $130.60 on Wednesday. The firm’s 50 day moving average price is $115.08 and its 200 day moving average price is $95.55. The stock has a market cap of $89.58 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35. The Blackstone Group Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $132.33. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.31.
The Blackstone Group (NYSE:BX) last released its quarterly earnings data on Wednesday, July 21st. The asset manager reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up 90.3% on a year-over-year basis. On average, equities analysts anticipate that The Blackstone Group Inc. will post 3.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were issued a dividend of $0.8475 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 dividend on an annualized basis and a yield of 2.60%. The Blackstone Group’s payout ratio is currently 105.66%.
The Blackstone Group Profile
The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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