Select Equity Group L.P. decreased its position in The Blackstone Group Inc. (NYSE:BX) by 56.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,362 shares of the asset manager’s stock after selling 290,431 shares during the quarter. Select Equity Group L.P.’s holdings in The Blackstone Group were worth $17,020,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Howe & Rusling Inc. acquired a new stake in shares of The Blackstone Group during the first quarter worth $25,000. Atlas Private Wealth Advisors acquired a new stake in shares of The Blackstone Group during the first quarter worth $30,000. Mascoma Wealth Management LLC acquired a new stake in shares of The Blackstone Group during the first quarter worth $31,000. Valley Brook Capital Group acquired a new stake in shares of The Blackstone Group during the fourth quarter worth $34,000. Finally, First Horizon Corp raised its position in shares of The Blackstone Group by 1,388.9% during the first quarter. First Horizon Corp now owns 536 shares of the asset manager’s stock worth $39,000 after purchasing an additional 500 shares during the period. 60.65% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Hamilton E. James sold 78,947 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 921,053 shares in the company, valued at approximately $81,365,822.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lifesciences Iii L.P. Clarus bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 11th. The shares were acquired at an average price of $17.00 per share, with a total value of $510,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,656,272 shares of company stock valued at $230,663,723. 1.00% of the stock is currently owned by corporate insiders.
Shares of BX traded up $3.12 during trading hours on Thursday, hitting $108.91. 34,556 shares of the company were exchanged, compared to its average volume of 4,979,335. The company has a market capitalization of $74.52 billion, a P/E ratio of 32.97 and a beta of 1.34. The company’s 50 day simple moving average is $95.74. The Blackstone Group Inc. has a 52 week low of $49.26 and a 52 week high of $106.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.09 and a current ratio of 1.09.
The Blackstone Group (NYSE:BX) last released its quarterly earnings results on Wednesday, April 21st. The asset manager reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.24. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Blackstone Group had a return on equity of 15.52% and a net margin of 26.66%. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities analysts expect that The Blackstone Group Inc. will post 3.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, April 30th. This represents a $3.28 annualized dividend and a dividend yield of 3.01%. The Blackstone Group’s dividend payout ratio (DPR) is presently 123.77%.
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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