The Blackstone Group L.P. (NYSE:BX) had its price objective reduced by Credit Suisse Group from $46.00 to $45.00 in a report issued on Wednesday morning. Credit Suisse Group currently has an outperform rating on the asset manager’s stock.

Several other equities analysts have also commented on BX. Vetr raised shares of The Blackstone Group L.P. from a buy rating to a strong-buy rating and set a $34.51 target price on the stock in a report on Tuesday, May 2nd. BidaskClub lowered shares of The Blackstone Group L.P. from a strong-buy rating to a buy rating in a report on Friday, July 28th. Morgan Stanley reissued an overweight rating and issued a $40.00 target price (up from $37.00) on shares of The Blackstone Group L.P. in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of The Blackstone Group L.P. from a buy rating to a hold rating in a report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $37.00 target price on shares of The Blackstone Group L.P. in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $37.34.

The Blackstone Group L.P. (BX) opened at 32.53 on Wednesday. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The company has a 50-day moving average price of $33.21 and a 200-day moving average price of $31.50. The firm has a market capitalization of $21.11 billion, a P/E ratio of 14.63 and a beta of 1.32.

The Blackstone Group L.P. (NYSE:BX) last released its quarterly 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 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 the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities research analysts predict that The Blackstone Group L.P. will post $2.83 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 6.64%. The ex-dividend date was Thursday, July 27th. The Blackstone Group L.P.’s dividend payout ratio (DPR) is presently 97.30%.

In related 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 shares were 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 of the company’s stock, valued at approximately $5,005,860.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $26.05, for a total transaction of $390,750,000.00. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several large investors have recently made changes to their positions in BX. FMR LLC raised its stake in shares of The Blackstone Group L.P. by 3.5% in the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock valued at $1,359,671,000 after buying an additional 1,387,363 shares during the period. Morgan Stanley raised its stake in shares of The Blackstone Group L.P. by 6.0% in the first quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock valued at $973,884,000 after buying an additional 1,859,744 shares during the period. Janus Capital Management LLC raised its stake in shares of The Blackstone Group L.P. by 15.8% in the first quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock valued at $556,990,000 after buying an additional 2,565,390 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of The Blackstone Group L.P. by 6.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,972,178 shares of the asset manager’s stock valued at $385,275,000 after buying an additional 841,476 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of The Blackstone Group L.P. by 107.7% in the second quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock valued at $382,695,000 after buying an additional 5,951,587 shares during the period. 46.63% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for The Blackstone Group L.P. (NYSE:BX)

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