Thrivent Financial For Lutherans cut its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,978,681 shares of the asset manager’s stock after selling 9,129 shares during the quarter. Thrivent Financial For Lutherans owned 0.31% of The Blackstone Group L.P. worth $65,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Morgan Stanley lifted its position in The Blackstone Group L.P. by 6.0% during the first quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock valued at $973,884,000 after purchasing an additional 1,859,744 shares during the last quarter. Janus Capital Management LLC lifted its position in The Blackstone Group L.P. by 15.8% during the first quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock valued at $556,990,000 after purchasing an additional 2,565,390 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Blackstone Group L.P. by 6.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,972,178 shares of the asset manager’s stock valued at $385,275,000 after purchasing an additional 841,476 shares during the last quarter. Bank of Montreal Can lifted its position in The Blackstone Group L.P. by 107.7% during the second quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock valued at $382,695,000 after purchasing an additional 5,951,587 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in The Blackstone Group L.P. by 2.0% during the first quarter. Clearbridge Investments LLC now owns 6,422,392 shares of the asset manager’s stock valued at $190,745,000 after purchasing an additional 125,477 shares during the last quarter. Institutional investors and hedge funds own 46.63% of the company’s stock.

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Several equities research analysts have issued reports on the stock. Credit Suisse Group dropped their target price on shares of The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. BidaskClub lowered shares of The Blackstone Group L.P. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Vetr upgraded shares of 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 research report on Thursday, August 10th. Morgan Stanley reiterated an “overweight” rating and set a $40.00 target price (up from $37.00) on shares of The Blackstone Group L.P. in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG lifted their target price on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.34.

Shares of The Blackstone Group L.P. (BX) traded up 0.62% on Friday, hitting $32.29. 2,443,879 shares of the company traded hands. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 14.52 and a beta of 1.34. The firm’s 50 day moving average price is $32.40 and its 200-day moving average price is $31.68. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last posted its earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $0.44 earnings per share. On average, equities research analysts expect that The Blackstone Group L.P. will post $2.80 earnings per share for the current year.

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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