The Blackstone Group L.P. (BX) Position Boosted by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP boosted its position in The Blackstone Group L.P. (NYSE:BX) by 725.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,300 shares of the asset manager’s stock after buying an additional 65,300 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in The Blackstone Group L.P. were worth $2,478,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of The Blackstone Group L.P. by 3.5% in the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after buying an additional 1,387,363 shares in the last quarter. Janus Henderson Group PLC grew its holdings in The Blackstone Group L.P. by 1,142.0% in the second quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock valued at $268,879,000 after purchasing an additional 7,413,287 shares during the last quarter. Fred Alger Management Inc. grew its holdings in The Blackstone Group L.P. by 23.8% in the second quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock valued at $209,763,000 after purchasing an additional 1,211,146 shares during the last quarter. Swedbank grew its holdings in The Blackstone Group L.P. by 14.6% in the third quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock valued at $181,303,000 after purchasing an additional 693,200 shares during the last quarter. Finally, Capital World Investors grew its holdings in The Blackstone Group L.P. by 101.0% in the second quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock valued at $133,008,000 after purchasing an additional 2,004,000 shares during the last quarter. Institutional investors and hedge funds own 46.58% of the company’s stock.

Several analysts have weighed in on the company. Vetr lowered The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a report on Monday. Morgan Stanley raised their target price on The Blackstone Group L.P. from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Bank of America Corporation raised their target price on The Blackstone Group L.P. from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of The Blackstone Group L.P. in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded The Blackstone Group L.P. from a “sell” rating to a “hold” rating in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The Blackstone Group L.P. currently has an average rating of “Buy” and an average price target of $38.25.

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Shares of The Blackstone Group L.P. (NYSE:BX) traded down $0.03 on Thursday, hitting $31.85. The stock had a trading volume of 3,328,000 shares, compared to its average volume of 4,185,559. The firm has a market cap of $20,107.21, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95. The Blackstone Group L.P. has a one year low of $25.57 and a one year high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, October 19th. The asset manager reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.39 billion. The Blackstone Group L.P. had a return on equity of 19.71% and a net margin of 22.88%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. sell-side analysts forecast that The Blackstone Group L.P. will post 2.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.76 dividend on an annualized basis and a yield of 5.53%. The Blackstone Group L.P.’s dividend payout ratio is currently 76.19%.

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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