DT Investment Partners LLC Acquires 7,387 Shares of The Blackstone Group L.P. (NYSE:BX)

DT Investment Partners LLC raised its position in shares of The Blackstone Group L.P. (NYSE:BX) by 16.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,003 shares of the asset manager’s stock after buying an additional 7,387 shares during the period. The Blackstone Group L.P. accounts for approximately 0.3% of DT Investment Partners LLC’s holdings, making the stock its 27th largest position. DT Investment Partners LLC’s holdings in The Blackstone Group L.P. were worth $1,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Winslow Evans & Crocker Inc. boosted its position in shares of 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. PHH Investments Ltd. purchased a new position in The Blackstone Group L.P. during the first quarter worth $134,000. Hudock Capital Group LLC raised its position in The Blackstone Group L.P. by 20.2% in the first quarter. Hudock Capital Group LLC now owns 4,726 shares of the asset manager’s stock worth $140,000 after buying an additional 793 shares during the last quarter. Archford Capital Strategies LLC raised its position in The Blackstone Group L.P. by 72.1% in the first quarter. Archford Capital Strategies LLC now owns 5,088 shares of the asset manager’s stock worth $151,000 after buying an additional 2,131 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its position in The Blackstone Group L.P. by 59.4% in the second quarter. Integrated Investment Consultants LLC now owns 5,100 shares of the asset manager’s stock worth $170,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 46.44% of the company’s stock.

The Blackstone Group L.P. (BX) opened at 31.52 on Friday. The stock has a 50 day moving average of $33.42 and a 200 day moving average of $31.47. The stock has a market cap of $20.45 billion, a P/E ratio of 14.17 and a beta of 1.32. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09.

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

The company also recently announced 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. This represents a $2.16 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Thursday, July 27th. The Blackstone Group L.P.’s payout ratio is 97.30%.

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A number of research analysts recently weighed in on BX shares. Citigroup Inc. raised shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $40.00 in a research report on Monday, May 22nd. BidaskClub raised shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC raised their price target on shares of The Blackstone Group L.P. from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. raised their price target on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $37.00 price target (up from $36.00) on shares of The Blackstone Group L.P. in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.34.

In other The Blackstone Group L.P. news, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joan Solotar sold 30,500 shares of the 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 sale, the insider now directly owns 150,281 shares of the company’s stock, valued at $5,005,860.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,050,500 shares of company stock worth $392,416,555. 1.00% of the stock is owned by company insiders.

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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