Ray Gerald L & Associates Ltd. raised its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,550 shares of the asset manager’s stock after buying an additional 500 shares during the period. Ray Gerald L & Associates Ltd.’s holdings in The Blackstone Group L.P. were worth $985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Winslow Evans & Crocker Inc. boosted its stake in shares of The Blackstone Group L.P. by 1.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock valued at $117,000 after buying an additional 50 shares during the period. PHH Investments Ltd. purchased a new stake in shares of The Blackstone Group L.P. during the first quarter valued at $134,000. Archford Capital Strategies LLC boosted its stake in shares of The Blackstone Group L.P. by 72.1% in the first quarter. Archford Capital Strategies LLC now owns 5,088 shares of the asset manager’s stock valued at $151,000 after buying an additional 2,131 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of The Blackstone Group L.P. by 59.4% in the second quarter. Integrated Investment Consultants LLC now owns 5,100 shares of the asset manager’s stock valued at $170,000 after buying an additional 1,900 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC purchased a new stake in shares of The Blackstone Group L.P. during the first quarter valued at $174,000. 46.63% of the stock is owned by institutional investors and hedge funds.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 31.94 on Wednesday. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09. The firm has a market cap of $20.73 billion, a PE ratio of 14.36 and a beta of 1.32. The firm’s 50-day moving average is $33.21 and its 200-day moving average is $31.50.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.55 billion during 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 prior year, the firm earned $0.44 EPS. Equities analysts expect that The Blackstone Group L.P. will post $2.83 earnings per share for the current fiscal year.

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

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Several analysts recently weighed in on BX shares. Citigroup Inc. raised shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $40.00 in a report on Monday, May 22nd. BidaskClub raised shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC raised their target price on shares of The Blackstone Group L.P. from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 23rd. 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 report on Friday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 target price (up previously from $36.00) on shares of The Blackstone Group L.P. in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned 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, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joan Solotar sold 30,500 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $33.31, for a total value of $1,015,955.00. Following the completion of the sale, the insider now directly owns 150,281 shares in the company, valued at approximately $5,005,860.11. 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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