Credit Suisse AG decreased its position in shares of The Blackstone Group L.P. (NYSE:BX) by 48.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 503,473 shares of the asset manager’s stock after selling 464,826 shares during the period. Credit Suisse AG owned 0.08% of The Blackstone Group L.P. worth $14,953,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in The Blackstone Group L.P. by 52.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,663 shares of the asset manager’s stock worth $208,000 after buying an additional 2,623 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in The Blackstone Group L.P. during the fourth quarter worth $200,000. Israel Discount Bank of New York GFN purchased a new stake in The Blackstone Group L.P. during the fourth quarter worth $135,000. River & Mercantile Asset Management LLP purchased a new stake in The Blackstone Group L.P. during the fourth quarter worth $2,826,000. Finally, Quadrature Capital Ltd purchased a new stake in The Blackstone Group L.P. during the fourth quarter worth $5,316,000. 45.75% of the stock is owned by institutional investors.

The Blackstone Group L.P. (NYSE BX) traded down 0.09% during trading on Thursday, hitting $33.18. 2,451,602 shares of the stock traded hands. The stock has a market cap of $21.43 billion, a P/E ratio of 16.43 and a beta of 1.32. The stock has a 50 day moving average price of $33.52 and a 200-day moving average price of $31.26. The Blackstone Group L.P. has a 52-week low of $23.33 and a 52-week high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.03. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.20%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts anticipate that The Blackstone Group L.P. will post $2.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 6.51%. The Blackstone Group L.P.’s dividend payout ratio is 97.30%.

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A number of analysts have weighed in on BX shares. Vetr lowered shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $33.18 price objective for the company. in a research note on Wednesday, April 19th. Citigroup Inc. upgraded shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $40.00 in a research note on Monday, May 22nd. BidaskClub upgraded shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC lifted their price target on shares of The Blackstone Group L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research lowered shares of The Blackstone Group L.P. from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Blackstone Group L.P. presently has a consensus rating of “Buy” and an average target price of $37.42.

In related news, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of The Blackstone Group L.P. stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 20,000 shares of The Blackstone Group L.P. stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total value of $650,600.00. Following the sale, the insider now directly owns 121,556 shares of the company’s stock, valued at approximately $3,954,216.68. The disclosure for this sale can be found here. Insiders have sold 15,050,500 shares of company stock worth $392,416,555 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

The Blackstone Group L.P. 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.

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

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