Evercore Wealth Management LLC increased its position in Blackstone Group L.P. (NYSE:BX) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,521,456 shares of the company’s stock after buying an additional 13,167 shares during the period. Blackstone Group L.P. makes up approximately 1.6% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Evercore Wealth Management LLC owned approximately 0.24% of Blackstone Group L.P. worth $37,336,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. F&V Capital Management LLC increased its position in Blackstone Group L.P. by 2.1% in the second quarter. F&V Capital Management LLC now owns 10,975 shares of the company’s stock valued at $269,000 after buying an additional 230 shares during the last quarter. DNB Asset Management AS increased its position in Blackstone Group L.P. by 15.3% in the second quarter. DNB Asset Management AS now owns 133,853 shares of the company’s stock valued at $3,285,000 after buying an additional 17,800 shares during the last quarter. Cacti Asset Management LLC increased its position in Blackstone Group L.P. by 4.4% in the second quarter. Cacti Asset Management LLC now owns 103,232 shares of the company’s stock valued at $2,533,000 after buying an additional 4,367 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock valued at $132,000 after buying an additional 2,565 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in Blackstone Group L.P. by 20.7% in the second quarter. Fulton Bank N.A. now owns 8,930 shares of the company’s stock valued at $219,000 after buying an additional 1,530 shares during the last quarter. Institutional investors own 49.44% of the company’s stock.

Institutional Ownership by Quarter for Blackstone Group L.P. (NYSE:BX)

Shares of Blackstone Group L.P. (NYSE:BX) opened at 24.20 on Friday. The stock has a market cap of $15.20 billion, a price-to-earnings ratio of 20.95 and a beta of 1.46. Blackstone Group L.P. has a 52-week low of $22.31 and a 52-week high of $32.07. The stock’s 50 day moving average is $24.56 and its 200 day moving average is $25.86.

Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, October 27th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.08. Blackstone Group L.P. had a return on equity of 15.41% and a net margin of 23.30%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was down 4432.0% compared to the same quarter last year. On average, equities analysts expect that Blackstone Group L.P. will post $1.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, November 7th will be paid a dividend of $0.41 per share. This is an increase from Blackstone Group L.P.’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, November 3rd. This represents a $1.64 annualized dividend and a dividend yield of 6.78%. Blackstone Group L.P.’s dividend payout ratio is presently 133.33%.

BX has been the topic of several research reports. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.89 target price on the stock. in a research report on Thursday, July 21st. Bank of America Corp. reissued a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Zacks Investment Research raised Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Jefferies Group upped their target price on Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Finally, Barclays PLC increased their price target on Blackstone Group L.P. from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Blackstone Group L.P. currently has a consensus rating of “Buy” and an average price target of $33.84.

In related news, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the transaction, the insider now owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

About Blackstone Group L.P.

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

5 Day Chart for NYSE:BX

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