Sadoff Investment Management LLC increased its stake in Blackstone Group L.P. (NYSE:BX) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,817 shares of the company’s stock after buying an additional 3,547 shares during the period. Sadoff Investment Management LLC’s holdings in Blackstone Group L.P. were worth $7,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV raised its position in shares of Blackstone Group L.P. by 148.8% in the second quarter. ING Groep NV now owns 15,846,567 shares of the company’s stock valued at $388,558,000 after buying an additional 9,477,059 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Blackstone Group L.P. by 63.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,324,694 shares of the company’s stock valued at $155,208,000 after buying an additional 2,451,565 shares during the period. FMR LLC raised its position in shares of Blackstone Group L.P. by 7.1% in the second quarter. FMR LLC now owns 36,238,251 shares of the company’s stock valued at $889,287,000 after buying an additional 2,397,701 shares during the period. Coronation Fund Managers Ltd. acquired a new position in shares of Blackstone Group L.P. during the second quarter valued at about $46,976,000. Finally, Artemis Investment Management LLP raised its position in shares of Blackstone Group L.P. by 100.1% in the second quarter. Artemis Investment Management LLP now owns 1,929,006 shares of the company’s stock valued at $47,329,000 after buying an additional 964,862 shares during the period. Institutional investors own 43.26% of the company’s stock.

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

Shares of Blackstone Group L.P. (NYSE:BX) traded up 2.70% during midday trading on Friday, hitting $26.60. 5,052,365 shares of the stock were exchanged. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $31.87. The stock has a 50 day moving average price of $24.59 and a 200-day moving average price of $25.79. The company has a market cap of $16.71 billion, a PE ratio of 23.03 and a beta of 1.46.

Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ 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 prior year, the business earned ($0.35) earnings per share. Blackstone Group L.P.’s revenue was down 4432.0% compared to the same quarter last year. On average, analysts predict that Blackstone Group L.P. will post $1.95 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were paid a dividend of $0.41 per share. This is a positive change from Blackstone Group L.P.’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a yield of 6.17%. The ex-dividend date was Thursday, November 3rd. Blackstone Group L.P.’s dividend payout ratio (DPR) is currently 133.33%.

Several research analysts have issued reports on BX shares. Jefferies Group restated a “buy” rating on shares of Blackstone Group L.P. in a research report on Wednesday, October 12th. Vetr raised shares of Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $29.22 price target for the company in a research note on Tuesday, September 13th. Zacks Investment Research raised shares of Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $35.00 price target on shares of Blackstone Group L.P. in a research note on Monday, September 19th. Finally, Bank of America Corp. reaffirmed a “hold” rating on shares of Blackstone Group L.P. in a research note on Friday, July 22nd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.84.

In related news, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction 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 sale, the insider now directly owns 42,967 shares in the company, valued at approximately $1,139,055.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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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