Bourgeon Capital Management LLC lowered its position in The Blackstone Group L.P. (NYSE:BX) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,950 shares of the asset manager’s stock after selling 2,600 shares during the period. The Blackstone Group L.P. comprises 2.0% of Bourgeon Capital Management LLC’s holdings, making the stock its 23rd largest position. Bourgeon Capital Management LLC’s holdings in The Blackstone Group L.P. were worth $3,133,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. IFC Holdings Incorporated FL increased its stake in The Blackstone Group L.P. by 1.6% in the second quarter. IFC Holdings Incorporated FL now owns 20,351 shares of the asset manager’s stock worth $679,000 after buying an additional 313 shares during the period. Sigma Planning Corp increased its stake in The Blackstone Group L.P. by 0.8% in the second quarter. Sigma Planning Corp now owns 23,952 shares of the asset manager’s stock worth $799,000 after buying an additional 185 shares during the period. Pekin Singer Strauss Asset Management IL increased its stake in The Blackstone Group L.P. by 53.1% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 58,379 shares of the asset manager’s stock worth $1,947,000 after buying an additional 20,254 shares during the period. Partnervest Advisory Services LLC increased its stake in The Blackstone Group L.P. by 24.1% in the second quarter. Partnervest Advisory Services LLC now owns 21,197 shares of the asset manager’s stock worth $707,000 after buying an additional 4,112 shares during the period. Finally, National Planning Corp increased its stake in The Blackstone Group L.P. by 26.4% in the second quarter. National Planning Corp now owns 47,235 shares of the asset manager’s stock worth $1,564,000 after buying an additional 9,867 shares during the period. 45.89% of the stock is owned by hedge funds and other institutional investors.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 31.95 on Friday. The stock has a market capitalization of $20.73 billion, a PE ratio of 14.37 and a beta of 1.32. The Blackstone Group L.P. has a 52-week low of $23.33 and a 52-week high of $35.09. The stock has a 50 day moving average price of $33.59 and a 200-day moving average price of $31.43.

The Blackstone Group L.P. (NYSE:BX) last posted 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 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 18.97%. During the same period in the prior year, the business earned $0.44 earnings per share. On average, equities research analysts anticipate 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 was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.16 annualized dividend and a dividend yield of 6.76%. The Blackstone Group L.P.’s dividend payout ratio is currently 97.30%.

WARNING: This article was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.dailypolitical.com/2017/08/12/bourgeon-capital-management-llc-cuts-stake-in-the-blackstone-group-l-p-nysebx.html.

A number of equities research analysts recently commented on the company. Vetr raised The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 target price for the company in a report on Thursday. BidaskClub downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price (up previously from $37.00) on shares of The Blackstone Group L.P. in a report on Tuesday, July 25th. Deutsche Bank AG lifted their target price on The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $37.00 target price on shares of The Blackstone Group L.P. in a report on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The Blackstone Group L.P. currently has a consensus rating of “Buy” and a consensus target price of $37.34.

In other news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total value of $650,600.00. Following the completion of the sale, the insider now directly 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 link. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were 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 valued at $392,416,555 over the last three months. Insiders own 1.00% of the company’s stock.

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.

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Blackstone Group L.P. (NYSE:BX).

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

Receive News & Ratings for The Blackstone Group L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Blackstone Group L.P. and related companies with MarketBeat.com's FREE daily email newsletter.