NewSquare Capital LLC raised its position in Blackstone Group L.P. (NYSE:BX) by 20.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,519 shares of the company’s stock after buying an additional 4,517 shares during the period. NewSquare Capital LLC’s holdings in Blackstone Group L.P. were worth $651,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Adirondack Trust Co. raised its stake in Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock valued at $128,000 after buying an additional 36 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock valued at $132,000 after buying an additional 2,565 shares during the last quarter. First National Bank Sioux Falls raised its stake in Blackstone Group L.P. by 5.9% in the second quarter. First National Bank Sioux Falls now owns 6,676 shares of the company’s stock valued at $164,000 after buying an additional 374 shares during the last quarter. Mariner Wealth Advisors LLC raised its stake in Blackstone Group L.P. by 2.9% in the first quarter. Mariner Wealth Advisors LLC now owns 7,210 shares of the company’s stock valued at $202,000 after buying an additional 200 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Blackstone Group L.P. by 20.7% in the second quarter. Fulton Bank N.A. now owns 8,930 shares of the company’s stock valued at $219,000 after buying an additional 1,530 shares during the last quarter. 49.03% of the stock is owned by institutional investors.

Blackstone Group L.P. (NYSE:BX) traded up 0.50% during midday trading on Tuesday, reaching $25.96. 2,293,863 shares of the company were exchanged. Blackstone Group L.P. has a 52-week low of $22.31 and a 52-week high of $35.24. The company has a market capitalization of $16.30 billion, a price-to-earnings ratio of 54.77 and a beta of 1.58. The company has a 50 day moving average of $27.12 and a 200-day moving average of $26.70.

Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The company earned $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Blackstone Group L.P. will post $2.09 earnings per share for the current fiscal year.

Several analysts have commented on BX shares. Vetr lowered shares of Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.89 price target for the company. in a research report on Thursday, July 21st. Jefferies Group increased their price objective on shares of Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Blackstone Group L.P. in a research report on Sunday, September 11th. Bank of America Corp. reaffirmed a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Finally, Deutsche Bank AG decreased their price objective on shares of Blackstone Group L.P. from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $34.19.

In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $27.87, for a total value of $306,570.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Blackstone Group L.P. Company Profile

The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.

5 Day Chart for NYSE:BX

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

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