Chicago Partners Investment Group LLC cut its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,730 shares of the asset manager’s stock after selling 14,167 shares during the period. Chicago Partners Investment Group LLC’s holdings in The Blackstone Group L.P. were worth $2,339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pioneer Investment Management Inc. bought a new position in The Blackstone Group L.P. during the first quarter valued at $4,771,000. Perkins Capital Management Inc. bought a new position in The Blackstone Group L.P. during the first quarter valued at $480,000. NEXT Financial Group Inc raised its position in The Blackstone Group L.P. by 42.4% in the first quarter. NEXT Financial Group Inc now owns 14,016 shares of the asset manager’s stock valued at $432,000 after buying an additional 4,173 shares during the last quarter. Hartwell J M Limited Partnership raised its position in The Blackstone Group L.P. by 5.4% in the first quarter. Hartwell J M Limited Partnership now owns 40,275 shares of the asset manager’s stock valued at $1,196,000 after buying an additional 2,050 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in The Blackstone Group L.P. during the first quarter valued at $2,828,000. 45.75% of the stock is currently owned by hedge funds and other institutional investors.

The Blackstone Group L.P. (NYSE:BX) opened at 33.78 on Friday. The company’s 50 day moving average price is $33.52 and its 200-day moving average price is $31.26. The company has a market capitalization of $21.85 billion, a P/E ratio of 17.50 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 Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings data 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 business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.20%. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities analysts forecast that The Blackstone Group L.P. will post $2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 31st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Thursday, July 27th. The Blackstone Group L.P.’s dividend payout ratio is 97.30%.

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BX has been the topic of several analyst reports. Vetr raised The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $34.51 target price on the stock in a research note on Tuesday, May 2nd. BidaskClub lowered The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $40.00 target price (up previously from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Zacks Investment Research lowered The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of The Blackstone Group L.P. in a research note on Thursday, April 27th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.42.

In related news, insider Joan Solotar sold 30,500 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $33.31, for a total transaction of $1,015,955.00. Following the transaction, the insider now directly owns 150,281 shares of the company’s stock, valued at approximately $5,005,860.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $390,750,000.00. The disclosure for this sale can be found here. Insiders sold a total of 15,050,500 shares of company stock worth $392,416,555 over the last three months. 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.

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Institutional Ownership by Quarter for The Blackstone Group L.P. (NYSE:BX)

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