Prospera Financial Services Inc acquired a new position in Blackstone Group L.P. (NYSE:BX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,933 shares of the company’s stock, valued at approximately $1,054,000.

Several other institutional investors also recently made changes to their positions in BX. Adirondack Trust Co. increased its position in shares of Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock worth $128,000 after buying an additional 36 shares in the last quarter. Mariner Wealth Advisors LLC boosted its stake in Blackstone Group L.P. by 2.9% in the first quarter. Mariner Wealth Advisors LLC now owns 7,210 shares of the company’s stock valued at $202,000 after buying an additional 200 shares during the last quarter. F&V Capital Management LLC boosted its stake in Blackstone Group L.P. by 2.1% in the second quarter. F&V Capital Management LLC now owns 10,975 shares of the company’s stock valued at $269,000 after buying an additional 230 shares during the last quarter. First National Bank Sioux Falls boosted its stake in Blackstone Group L.P. by 5.9% in the second quarter. First National Bank Sioux Falls now owns 6,676 shares of the company’s stock valued at $164,000 after buying an additional 374 shares during the last quarter. Finally, Cottage Street Advisors LLC boosted its stake in Blackstone Group L.P. by 0.7% in the first quarter. Cottage Street Advisors LLC now owns 82,600 shares of the company’s stock valued at $2,327,000 after buying an additional 600 shares during the last quarter. 49.02% of the stock is owned by institutional investors and hedge funds.

Shares of Blackstone Group L.P. (NYSE:BX) traded down 1.14% on Thursday, reaching $26.05. The company had a trading volume of 4,356,506 shares. The stock has a 50 day moving average price of $27.14 and a 200-day moving average price of $26.69. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.24. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 54.96 and a beta of 1.58.

Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. Analysts forecast that Blackstone Group L.P. will post $2.08 EPS for the current fiscal year.

Several research firms recently weighed in on BX. Vetr cut Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.22 target price for the company. in a research note on Wednesday. Credit Suisse Group AG restated a “buy” rating and set a $35.00 target price on shares of Blackstone Group L.P. in a research note on Monday. Barclays PLC boosted their target price on Blackstone Group L.P. from $29.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Jefferies Group boosted their target price on Blackstone Group L.P. from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Blackstone Group L.P. currently has an average rating of “Buy” and an average target price of $34.19.

In other news, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the completion of the transaction, the insider now owns 42,967 shares in the company, valued at approximately $1,139,055.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

About Blackstone Group L.P.

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

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