Camelot Portfolios LLC cut its stake in The Blackstone Group L.P. (NYSE:BX) by 6.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,854 shares of the asset manager’s stock after selling 949 shares during the period. Camelot Portfolios LLC’s holdings in The Blackstone Group L.P. were worth $462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of 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 worth $973,884,000 after buying an additional 1,859,744 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of 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 worth $556,990,000 after buying an additional 2,565,390 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 worth $385,275,000 after buying an additional 841,476 shares in the last quarter. Bank of Montreal Can raised its stake in shares of 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 worth $382,695,000 after buying an additional 5,951,587 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of 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 worth $190,745,000 after buying an additional 125,477 shares in the last quarter. Hedge funds and other institutional investors own 45.89% of the company’s stock.

Shares of The Blackstone Group L.P. (BX) opened at 33.78 on Monday. The company’s 50-day moving average is $33.52 and its 200 day moving average is $31.26. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 17.50 and a beta of 1.32.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by $0.03. The Blackstone Group L.P. had a return on equity of 19.20% and a net margin of 22.88%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts expect that The Blackstone Group L.P. will post $2.85 EPS for the current fiscal year.

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

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A number of analysts have recently weighed in on the stock. BidaskClub raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price target (up from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Deutsche Bank AG upped their price target on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. upped their price target on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The Blackstone Group L.P. has a consensus rating of “Buy” and a consensus price target of $37.42.

In related news, insider John G. Finley sold 20,000 shares of The Blackstone Group L.P. stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total transaction of $650,600.00. Following the transaction, the insider now owns 121,556 shares of the company’s stock, valued at approximately $3,954,216.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joan Solotar sold 30,500 shares of The Blackstone Group L.P. 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 in the company, valued at approximately $5,005,860.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,050,500 shares of company stock valued at $392,416,555. 1.00% of the stock is owned by corporate insiders.

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.

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

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