The Blackstone Group L.P. (BX) Stake Increased by Klingenstein Fields & Co. LLC

Klingenstein Fields & Co. LLC raised its position in shares of The Blackstone Group L.P. (NYSE:BX) by 18.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,535 shares of the asset manager’s stock after buying an additional 1,350 shares during the period. Klingenstein Fields & Co. LLC’s holdings in The Blackstone Group L.P. were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mosaic Family Wealth LLC raised its stake in The Blackstone Group L.P. by 0.4% in the first quarter. Mosaic Family Wealth LLC now owns 7,063 shares of the asset manager’s stock worth $210,000 after buying an additional 25 shares in the last quarter. Linscomb & Williams Inc. raised its stake in The Blackstone Group L.P. by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 9,113 shares of the asset manager’s stock worth $271,000 after buying an additional 36 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in 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 worth $117,000 after buying an additional 50 shares in the last quarter. Donald L. Hagan LLC raised its stake in The Blackstone Group L.P. by 1.0% in the first quarter. Donald L. Hagan LLC now owns 10,100 shares of the asset manager’s stock worth $300,000 after buying an additional 100 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in The Blackstone Group L.P. by 1.5% in the first quarter. Nuveen Asset Management LLC now owns 8,689 shares of the asset manager’s stock worth $258,000 after buying an additional 126 shares in the last quarter. 45.89% of the stock is currently owned by hedge funds and other institutional investors.

The Blackstone Group L.P. (NYSE BX) traded down 1.08% during mid-day trading on Friday, reaching $31.95. 4,904,890 shares of the company’s stock traded hands. The stock has a market capitalization of $20.73 billion, a PE ratio of 14.37 and a beta of 1.32. The Blackstone Group L.P. has a 12 month low of $23.33 and a 12 month high of $35.09. The firm’s 50-day moving average price is $33.59 and its 200 day moving average price is $31.43.

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same quarter in the previous year, the company posted $0.44 EPS. Equities research analysts predict that The Blackstone Group L.P. will post $2.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders 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 6.76%. The ex-dividend date was Thursday, July 27th. The Blackstone Group L.P.’s payout ratio is presently 97.30%.

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A number of research firms have recently issued reports on BX. 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. Vetr upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price objective on the stock in a research note on Thursday. Deutsche Bank AG lifted their price objective 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. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $37.00 price objective on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The Blackstone Group L.P. currently has a consensus rating of “Buy” and a consensus price target of $37.34.

In related news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total value of $650,600.00. Following the transaction, the insider now owns 121,556 shares in the company, valued at $3,954,216.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joan Solotar sold 30,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 150,281 shares in the company, valued at approximately $5,005,860.11. The disclosure for this sale can be found here. Insiders have sold 15,050,500 shares of company stock worth $392,416,555 in the last 90 days. 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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