Evercore Wealth Management LLC reduced its position in shares of The Blackstone Group L.P. (NYSE:BX) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,516,840 shares of the asset manager’s stock after selling 30,335 shares during the quarter. The Blackstone Group L.P. comprises 2.0% of Evercore Wealth Management LLC’s holdings, making the stock its 14th biggest position. Evercore Wealth Management LLC owned 0.23% of The Blackstone Group L.P. worth $50,586,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. FMR LLC raised its holdings in The Blackstone Group L.P. by 3.5% during the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after purchasing an additional 1,387,363 shares during the last quarter. Morgan Stanley raised its holdings in The Blackstone Group L.P. by 6.0% during the 1st quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock worth $973,884,000 after purchasing an additional 1,859,744 shares during the last quarter. Janus Capital Management LLC raised its holdings in The Blackstone Group L.P. by 15.8% during the 1st quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock worth $556,990,000 after purchasing an additional 2,565,390 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The Blackstone Group L.P. by 6.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,972,178 shares of the asset manager’s stock worth $385,275,000 after purchasing an additional 841,476 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in The Blackstone Group L.P. by 107.7% during the 2nd quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock worth $382,695,000 after purchasing an additional 5,951,587 shares during the last quarter. 46.58% of the stock is owned by hedge funds and other institutional investors.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.03). The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business earned $0.44 earnings per share.

Several analysts have weighed in on BX shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 price objective on shares of The Blackstone Group L.P. in a report on Friday, July 14th. Vetr lowered The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 target price for the company. in a research report on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating and set a $41.00 target price (up from $40.00) on shares of The Blackstone Group L.P. in a research report on Sunday, May 28th. Jefferies Group LLC restated a “buy” rating and set a $38.00 target price on shares of The Blackstone Group L.P. in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.38.

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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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