JRM Investment Counsel LLC Has $4.248 Million Stake in Blackstone Group LP (BX)

JRM Investment Counsel LLC Has $4.248 Million Stake in Blackstone Group LP (BX)

JRM Investment Counsel LLC reduced its position in Blackstone Group LP (NYSE:BX) by 10.7% during the first quarter, Holdings Channel reports. The institutional investor owned 143,015 shares of the asset manager’s stock after selling 17,165 shares during the period. Blackstone Group accounts for about 3.6% of JRM Investment Counsel LLC’s holdings, making the stock its 10th largest position. JRM Investment Counsel LLC’s holdings in Blackstone Group were worth $4,248,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BX. Douglas Lane & Associates LLC increased its stake in Blackstone Group by 16.8% in the third quarter. Douglas Lane & Associates LLC now owns 982,801 shares of the asset manager’s stock worth $25,091,000 after buying an additional 141,690 shares in the last quarter. DnB Asset Management AS increased its stake in Blackstone Group by 1.7% in the third quarter. DnB Asset Management AS now owns 136,153 shares of the asset manager’s stock worth $3,476,000 after buying an additional 2,300 shares in the last quarter. Financial Architects Inc increased its stake in Blackstone Group by 6.4% in the third quarter. Financial Architects Inc now owns 13,236 shares of the asset manager’s stock worth $338,000 after buying an additional 801 shares in the last quarter. Beck Mack & Oliver LLC increased its stake in Blackstone Group by 7.7% in the third quarter. Beck Mack & Oliver LLC now owns 3,229,753 shares of the asset manager’s stock worth $82,456,000 after buying an additional 230,452 shares in the last quarter. Finally, Stelac Advisory Services LLC increased its stake in Blackstone Group by 18.0% in the third quarter. Stelac Advisory Services LLC now owns 59,542 shares of the asset manager’s stock worth $1,454,000 after buying an additional 9,100 shares in the last quarter. Institutional investors own 43.26% of the company’s stock.

Blackstone Group LP (NYSE:BX) traded up 0.07% on Friday, hitting $30.28. The stock had a trading volume of 3,493,054 shares. Blackstone Group LP has a 12 month low of $22.45 and a 12 month high of $31.69. The stock has a market cap of $19.44 billion, a PE ratio of 15.85 and a beta of 1.42. The firm’s 50 day moving average price is $30.00 and its 200-day moving average price is $28.64.

Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, April 20th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.13. The business earned $1.94 billion during the quarter, compared to the consensus estimate of $1.60 billion. Blackstone Group had a net margin of 20.08% and a return on equity of 15.59%. The business’s revenue was up 108.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, analysts forecast that Blackstone Group LP will post $2.90 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Monday, May 1st will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 11.49%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.47. Blackstone Group’s dividend payout ratio (DPR) is currently 121.29%.

Several equities research analysts have weighed in on BX shares. Vetr raised Blackstone Group from a “hold” rating to a “buy” rating and set a $31.70 price objective on the stock in a research note on Monday, January 9th. Zacks Investment Research raised Blackstone Group from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, January 11th. Barclays PLC reissued a “buy” rating and set a $34.00 price objective on shares of Blackstone Group in a research note on Sunday, January 15th. Jefferies Group LLC reissued a “buy” rating on shares of Blackstone Group in a research note on Friday, January 20th. Finally, Credit Suisse Group AG set a $40.00 price objective on Blackstone Group and gave the stock a “buy” rating in a research note on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.31.

In other news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $30.72, for a total transaction of $614,400.00. Following the completion of the sale, the insider now owns 161,556 shares in the company, valued at approximately $4,963,000.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bennett J. Goodman sold 635,075 shares of Blackstone Group stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $30.26, for a total transaction of $19,217,369.50. Following the completion of the sale, the director now owns 315,331 shares of the company’s stock, valued at approximately $9,541,916.06. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Group Company Profile

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.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Group LP (NYSE:BX).

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