Account Management LLC grew its holdings in shares of The Blackstone Group L.P. (NYSE:BX) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,830 shares of the asset manager’s stock after buying an additional 4,500 shares during the quarter. The Blackstone Group L.P. accounts for approximately 8.0% of Account Management LLC’s holdings, making the stock its 3rd biggest holding. Account Management LLC’s holdings in The Blackstone Group L.P. were worth $7,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Waldron LP purchased a new stake in shares of The Blackstone Group L.P. during the 1st quarter valued at about $661,000. US Bancorp DE raised its position in shares of The Blackstone Group L.P. by 12.9% during the 1st quarter. US Bancorp DE now owns 22,812 shares of the asset manager’s stock valued at $677,000 after buying an additional 2,612 shares in the last quarter. AT Bancorp raised its position in shares of The Blackstone Group L.P. by 33.3% during the 1st quarter. AT Bancorp now owns 71,853 shares of the asset manager’s stock valued at $2,134,000 after buying an additional 17,938 shares in the last quarter. Strategic Advisors LLC purchased a new stake in shares of The Blackstone Group L.P. during the 1st quarter valued at about $407,000. Finally, Suntrust Banks Inc. raised its position in shares of The Blackstone Group L.P. by 30.4% during the 1st quarter. Suntrust Banks Inc. now owns 78,206 shares of the asset manager’s stock valued at $2,321,000 after buying an additional 18,210 shares in the last quarter. Hedge funds and other institutional investors own 46.63% of the company’s stock.

Several analysts have recently issued reports on the stock. Vetr upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 target price on the stock in a research report on Thursday, August 10th. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price target (up from $37.00) on shares of The Blackstone Group L.P. in a report on Tuesday, July 25th. Credit Suisse Group cut their price target on shares of The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Zacks Investment Research downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $41.00 price target (up from $40.00) on shares of The Blackstone Group L.P. in a report on Sunday, May 28th. 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 assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $37.34.

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Shares of The Blackstone Group L.P. (BX) traded down 0.03% during trading on Friday, reaching $31.61. 1,367,473 shares of the company’s stock were exchanged. The company has a 50 day moving average of $32.71 and a 200 day moving average of $31.60. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09. The stock has a market cap of $20.51 billion, a P/E ratio of 14.21 and a beta of 1.34.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $0.44 earnings per share. Equities research analysts anticipate that The Blackstone Group L.P. will post $2.81 EPS for the current year.

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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