Birinyi Associates Inc. lowered its position in shares of The Blackstone Group L.P. (NYSE:BX) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,275 shares of the asset manager’s stock after selling 3,700 shares during the period. Birinyi Associates Inc.’s holdings in The Blackstone Group L.P. were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BX. Markel Corp increased its position in The Blackstone Group L.P. by 6.3% in the first quarter. Markel Corp now owns 595,000 shares of the asset manager’s stock worth $17,671,000 after buying an additional 35,000 shares during the period. Linscomb & Williams Inc. increased its position in The Blackstone Group L.P. by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 9,113 shares of the asset manager’s stock worth $271,000 after buying an additional 36 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in The Blackstone Group L.P. by 123.0% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 37,800 shares of the asset manager’s stock worth $1,123,000 after buying an additional 20,850 shares during the period. Central Bank & Trust Co. increased its position in The Blackstone Group L.P. by 10,889.4% in the first quarter. Central Bank & Trust Co. now owns 77,585 shares of the asset manager’s stock worth $2,304,000 after buying an additional 76,879 shares during the period. Finally, Macguire Cheswick & Tuttle Investment Counsel LLC increased its position in The Blackstone Group L.P. by 1.0% in the first quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 257,540 shares of the asset manager’s stock worth $7,649,000 after buying an additional 2,450 shares during the period. 46.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Blackstone Group L.P. (BX) opened at 31.74 on Tuesday. The stock has a 50 day moving average of $33.21 and a 200-day moving average of $31.50. The company has a market capitalization of $20.60 billion, a PE ratio of 14.27 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.03. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. 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 earned $0.44 earnings per share. Analysts predict that The Blackstone Group L.P. will post $2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.16 annualized dividend and a yield of 6.76%. The Blackstone Group L.P.’s dividend payout ratio is presently 97.30%.

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A number of research analysts have commented on the stock. BidaskClub raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reissued 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 report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 target price on shares of The Blackstone Group L.P. in a research report on Friday, July 14th. Deutsche Bank AG raised their target price on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. raised their target price on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.34.

In other The Blackstone Group L.P. news, insider Joan Solotar sold 30,500 shares of The Blackstone Group L.P. stock in a transaction that occurred on 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 sale, the insider now directly owns 150,281 shares in the company, valued at approximately $5,005,860.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of The Blackstone Group L.P. 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. 1.00% of the stock is owned by 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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