Douglas Lane & Associates LLC boosted its position in shares of The Blackstone Group L.P. (NYSE:BX) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,171,814 shares of the asset manager’s stock after buying an additional 33,863 shares during the period. Douglas Lane & Associates LLC owned about 0.18% of The Blackstone Group L.P. worth $39,080,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in 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 last quarter. Janus Capital Management LLC increased its position in 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 last quarter. Massachusetts Financial Services Co. MA increased its position in 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 last quarter. Bank of Montreal Can increased its position in 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 last quarter. Finally, Clearbridge Investments LLC increased its position in The Blackstone Group L.P. by 2.0% in the first quarter. Clearbridge Investments LLC now owns 6,422,392 shares of the asset manager’s stock valued at $190,745,000 after buying an additional 125,477 shares during the last quarter. Institutional investors and hedge funds own 49.99% of the company’s stock.
Shares of The Blackstone Group L.P. (NYSE BX) traded down 0.083% on Thursday, hitting $34.751. The stock had a trading volume of 3,216,809 shares. The Blackstone Group L.P. has a 52-week low of $23.33 and a 52-week high of $35.09. The firm has a market cap of $22.47 billion, a PE ratio of 17.161 and a beta of 1.32. The firm’s 50-day moving average price is $33.31 and its 200 day moving average price is $30.99.
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 analysts’ consensus estimates of $0.62 by $0.03. The Blackstone Group L.P. had a net margin of 21.87% and a return on equity of 17.90%. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that The Blackstone Group L.P. will post $2.91 EPS for the current year.
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Several analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of The Blackstone Group L.P. in a report on Wednesday, June 28th. BidaskClub upgraded The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Citigroup Inc. restated a “buy” rating and set a $41.00 price target (up previously from $40.00) on shares of The Blackstone Group L.P. in a report on Sunday, May 28th. Vetr lowered The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price target on the stock. in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. increased their price target on The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.56.
In other The Blackstone Group L.P. news, 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 stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total value of $650,600.00. Following the sale, the insider now directly owns 121,556 shares of the company’s stock, valued at $3,954,216.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,050,500 shares of company stock valued at $392,416,555. 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.
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