Artemis Investment Management LLP raised its position in shares of The Blackstone Group L.P. (NYSE:BX) by 91.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,147,762 shares of the asset manager’s stock after buying an additional 1,028,755 shares during the period. The Blackstone Group L.P. accounts for approximately 1.7% of Artemis Investment Management LLP’s portfolio, making the stock its 11th largest position. Artemis Investment Management LLP owned 0.33% of The Blackstone Group L.P. worth $71,618,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BX. Bronfman E.L. Rothschild L.P. increased its position in shares of The Blackstone Group L.P. by 1,202.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 52,109 shares of the asset manager’s stock worth $1,738,000 after buying an additional 48,108 shares in the last quarter. Evanston Investments Inc. dba Evanston Advisors acquired a new position in shares of The Blackstone Group L.P. during the second quarter worth $267,000. JRM Investment Counsel LLC increased its position in shares of The Blackstone Group L.P. by 18.9% in the second quarter. JRM Investment Counsel LLC now owns 170,035 shares of the asset manager’s stock worth $5,671,000 after buying an additional 27,020 shares in the last quarter. Baldwin Investment Management LLC increased its position in shares of The Blackstone Group L.P. by 1.8% in the second quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock worth $382,000 after buying an additional 200 shares in the last quarter. Finally, Whalerock Point Partners LLC acquired a new position in shares of The Blackstone Group L.P. during the second quarter worth $205,000. 46.63% of the stock is owned by institutional investors and hedge funds.

Shares of The Blackstone Group L.P. (NYSE:BX) opened at 32.73 on Friday. The stock has a market cap of $21.24 billion, a PE ratio of 14.72 and a beta of 1.32. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The company has a 50-day moving average of $33.09 and a 200 day moving average of $31.55.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.03. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 18.97%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts predict that The Blackstone Group L.P. will post $2.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, July 27th. This represents a $2.16 dividend on an annualized basis and a yield of 6.60%. The Blackstone Group L.P.’s payout ratio is 97.30%.

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Several equities research analysts recently weighed in on BX shares. Credit Suisse Group reduced their price target on shares of The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday. BidaskClub downgraded shares of The Blackstone Group L.P. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price target for the company in a research report on Thursday, August 10th. Morgan Stanley reissued an “overweight” rating and set 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. Finally, Deutsche Bank AG raised their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $37.34.

In other The Blackstone Group L.P. news, insider Joan Solotar sold 30,500 shares of the company’s 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 transaction, the insider now owns 150,281 shares in the company, valued at approximately $5,005,860.11. The sale was disclosed in a document filed 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 company’s 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. Corporate insiders own 1.00% of the company’s stock.

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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