Blackstone Group LP (BX) Shares Bought by Wilbanks Smith & Thomas Asset Management LLC
Wilbanks Smith & Thomas Asset Management LLC grew its position in Blackstone Group LP (NYSE:BX) by 14.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,180 shares of the asset manager’s stock after acquiring an additional 1,885 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Blackstone Group were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of BX. Centaurus Financial Inc. acquired a new position in Blackstone Group during the 1st quarter valued at approximately $119,000. Quad Cities Investment Group LLC acquired a new position in Blackstone Group during the 2nd quarter valued at approximately $122,000. AlphaMark Advisors LLC acquired a new position in Blackstone Group during the 1st quarter valued at approximately $141,000. Rockefeller Capital Management L.P. acquired a new position in Blackstone Group during the 1st quarter valued at approximately $142,000. Finally, Archford Capital Strategies LLC acquired a new position in Blackstone Group during the 1st quarter valued at approximately $147,000. Institutional investors and hedge funds own 48.12% of the company’s stock.
Shares of BX stock opened at $35.85 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Blackstone Group LP has a 1 year low of $29.57 and a 1 year high of $37.52. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 6th. Shareholders of record on Monday, July 30th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend was Friday, July 27th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.35. Blackstone Group’s payout ratio is 82.56%.
In other Blackstone Group news, insider John G. Finley sold 10,000 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $35.76, for a total transaction of $357,600.00. Following the completion of the transaction, the insider now owns 113,003 shares in the company, valued at approximately $4,040,987.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $33.23, for a total value of $664,600.00. Following the transaction, the insider now owns 113,003 shares of the company’s stock, valued at approximately $3,755,089.69. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $1,202,100 in the last quarter. 1.00% of the stock is currently owned by insiders.
BX has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Blackstone Group from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, April 23rd. ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group restated a “buy” rating and set a $42.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $40.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Finally, Oppenheimer set a $42.00 price objective on Blackstone Group and gave the company a “buy” rating in a research report on Thursday, July 19th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.50.
Blackstone Group Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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