The Blackstone Group L.P. (BX) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA decreased its position in shares of The Blackstone Group L.P. (NYSE:BX) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,508 shares of the asset manager’s stock after selling 1,300 shares during the period. Berkshire Asset Management LLC PA’s holdings in The Blackstone Group L.P. were worth $817,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Rothschild Investment Corp IL raised its stake in shares of The Blackstone Group L.P. by 5.0% in the second quarter. Rothschild Investment Corp IL now owns 131,847 shares of the asset manager’s stock worth $4,397,000 after buying an additional 6,312 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new stake in shares of The Blackstone Group L.P. during the second quarter worth $247,000. BB&T Corp bought a new stake in shares of The Blackstone Group L.P. during the second quarter worth $217,000. US Bancorp DE raised its stake in shares of The Blackstone Group L.P. by 48.1% in the second quarter. US Bancorp DE now owns 33,791 shares of the asset manager’s stock worth $1,127,000 after buying an additional 10,979 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in shares of The Blackstone Group L.P. by 3.0% in the second quarter. Douglas Lane & Associates LLC now owns 1,171,814 shares of the asset manager’s stock worth $39,080,000 after buying an additional 33,863 shares in the last quarter. Institutional investors and hedge funds own 45.89% of the company’s stock.

Shares of The Blackstone Group L.P. (NYSE BX) traded down 1.08% on Friday, reaching $31.95. 4,904,890 shares of the company traded hands. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 14.37 and a beta of 1.32. The company has a 50-day moving average of $33.59 and a 200-day moving average of $31.43.

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $0.44 EPS. Analysts anticipate that The Blackstone Group L.P. will post $2.85 earnings per share for the current fiscal year.

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

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A number of equities research analysts have weighed in 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 for the company in a research note on Thursday. BidaskClub lowered shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $40.00 target price (up from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Deutsche Bank AG boosted 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 note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $37.00 target price on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The Blackstone Group L.P. has an average rating of “Buy” and a consensus price target of $37.34.

In related news, insider Joan Solotar sold 30,500 shares of the business’s stock in a transaction dated 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 directly owns 150,281 shares in the company, valued at $5,005,860.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total transaction of $650,600.00. Following the transaction, the insider now owns 121,556 shares in the company, valued at $3,954,216.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,050,500 shares of company stock worth $392,416,555. Company 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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