Klingenstein Fields & Co. LLC lifted its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 68.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,335 shares of the asset manager’s stock after purchasing an additional 5,800 shares during the period. Klingenstein Fields & Co. LLC’s holdings in The Blackstone Group L.P. were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Omnia Family Wealth LLC grew its stake in The Blackstone Group L.P. by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares in the last quarter. Mosaic Family Wealth LLC grew its stake in shares of The Blackstone Group L.P. by 0.6% in the 2nd quarter. Mosaic Family Wealth LLC now owns 7,108 shares of the asset manager’s stock valued at $237,000 after buying an additional 45 shares during the period. Winslow Evans & Crocker Inc. grew its stake in shares of The Blackstone Group L.P. by 1.4% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock valued at $117,000 after buying an additional 50 shares during the period. Linscomb & Williams Inc. grew its stake in shares of The Blackstone Group L.P. by 0.8% in the 2nd quarter. Linscomb & Williams Inc. now owns 9,182 shares of the asset manager’s stock valued at $306,000 after buying an additional 69 shares during the period. Finally, Gofen & Glossberg LLC IL grew its stake in shares of The Blackstone Group L.P. by 1.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock valued at $282,000 after buying an additional 110 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of The Blackstone Group L.P. from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Vetr upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price objective on the stock in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of The Blackstone Group L.P. in a report on Thursday, October 19th. Credit Suisse Group decreased their price objective on shares of The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Finally, BidaskClub upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a 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 $38.42.

Shares of The Blackstone Group L.P. (BX) traded up $0.11 during trading on Monday, reaching $33.00. 1,772,414 shares of the company’s stock traded hands, compared to its average volume of 3,690,000. The Blackstone Group L.P. has a 52 week low of $23.33 and a 52 week high of $35.09. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $39,800.00, a P/E ratio of 11.83, a P/E/G ratio of 0.60 and a beta of 1.42.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.90%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $0.57 EPS. The Blackstone Group L.P.’s revenue for the quarter was up 21.4% on a year-over-year basis. sell-side analysts anticipate that The Blackstone Group L.P. will post 2.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, October 27th. The Blackstone Group L.P.’s dividend payout ratio (DPR) is presently 75.86%.

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About The Blackstone Group L.P.

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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