HM Payson & Co. increased its position in shares of The Blackstone Group L.P. (NYSE:BX) by 25.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,834 shares of the asset manager’s stock after buying an additional 4,000 shares during the period. HM Payson & Co.’s holdings in The Blackstone Group L.P. were worth $661,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BX. BB&T Securities LLC boosted its stake in shares of The Blackstone Group L.P. by 38.2% in the second quarter. BB&T Securities LLC now owns 112,474 shares of the asset manager’s stock valued at $3,750,000 after buying an additional 31,097 shares during the period. Somerset Group LLC acquired a new stake in shares of The Blackstone Group L.P. during the second quarter valued at about $200,000. Douglass Winthrop Advisors LLC boosted its stake in shares of The Blackstone Group L.P. by 4.1% in the second quarter. Douglass Winthrop Advisors LLC now owns 12,675 shares of the asset manager’s stock valued at $423,000 after buying an additional 500 shares during the period. Bristol Advisors LLC boosted its stake in shares of The Blackstone Group L.P. by 332.0% in the second quarter. Bristol Advisors LLC now owns 85,100 shares of the asset manager’s stock valued at $2,838,000 after buying an additional 65,400 shares during the period. Finally, Riverpark Capital Management LLC boosted its stake in shares of The Blackstone Group L.P. by 15.6% in the second quarter. Riverpark Capital Management LLC now owns 1,257,856 shares of the asset manager’s stock valued at $41,950,000 after buying an additional 169,695 shares during the period. 46.44% of the stock is currently owned by hedge funds and other institutional investors.

The Blackstone Group L.P. (NYSE BX) opened at 31.52 on Monday. The stock’s 50 day moving average price is $33.42 and its 200 day moving average price is $31.47. The stock has a market cap of $20.45 billion, a price-to-earnings ratio of 14.17 and a beta of 1.32. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 18.97%. During the same period in the previous year, the business earned $0.44 EPS. Analysts forecast that The Blackstone Group L.P. will post $2.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were given a dividend of $0.54 per share. The ex-dividend date was Thursday, July 27th. This represents a $2.16 annualized dividend and a yield of 6.85%. The Blackstone Group L.P.’s dividend payout ratio (DPR) is presently 97.30%.

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Several brokerages have issued reports on BX. BidaskClub raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price (up previously from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $37.00 target price on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Deutsche Bank AG lifted their target price on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The Blackstone Group L.P. has a consensus rating of “Buy” and a consensus target price of $37.34.

In related news, insider Joan Solotar sold 30,500 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $33.31, for a total transaction of $1,015,955.00. Following the transaction, the insider now directly owns 150,281 shares in the company, valued at $5,005,860.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 20,000 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total value of $650,600.00. Following the transaction, the insider now owns 121,556 shares in the company, valued at $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 over the last quarter. 1.00% of the stock is currently owned by company insiders.

About The Blackstone Group L.P.

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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