Carroll Financial Associates Inc. lowered its stake in The Blackstone Group L.P. (NYSE:BX) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,570 shares of the asset manager’s stock after selling 574 shares during the period. Carroll Financial Associates Inc.’s holdings in The Blackstone Group L.P. were worth $252,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position 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 valued at $208,000 after buying an additional 2,623 shares during the last quarter. Guggenheim Capital LLC purchased a new position in The Blackstone Group L.P. during the fourth quarter valued at about $200,000. Quadrature Capital Ltd bought a new stake in shares of The Blackstone Group L.P. during the fourth quarter valued at approximately $5,316,000. RMB Capital Management LLC bought a new stake in shares of The Blackstone Group L.P. during the fourth quarter valued at approximately $203,000. Finally, Teachers Advisors LLC bought a new stake in shares of The Blackstone Group L.P. during the fourth quarter valued at approximately $5,042,000. Hedge funds and other institutional investors own 45.89% of the company’s stock.

Shares of The Blackstone Group L.P. (NYSE:BX) opened at 33.78 on Monday. The company has a market capitalization of $21.85 billion, a PE ratio of 17.50 and a beta of 1.32. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The stock’s 50 day moving average price is $33.52 and its 200-day moving average price is $31.26.

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS 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 firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $0.44 EPS. On average, equities analysts predict that The Blackstone Group L.P. will post $2.85 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Monday, July 31st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.16 annualized dividend and a dividend yield of 6.39%. The Blackstone Group L.P.’s dividend payout ratio is presently 97.30%.

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Several analysts have recently commented on the stock. BidaskClub downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank AG raised their price objective on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $37.55 price objective for the company in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research report on Friday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $40.00 price target (up previously from $37.00) on shares of The Blackstone Group L.P. in a research report on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.42.

In related news, insider John G. Finley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total value of $650,600.00. Following the completion of the transaction, the insider now directly owns 121,556 shares in the company, valued at $3,954,216.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,050,500 shares of company stock valued at $392,416,555. Insiders own 1.00% of the company’s stock.

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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