Legal & General Group Plc lowered its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,092,450 shares of the asset manager’s stock after selling 21,781 shares during the period. Legal & General Group Plc owned approximately 0.17% of The Blackstone Group L.P. worth $36,428,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BX. Morgan Stanley increased its stake in shares of The Blackstone Group L.P. by 6.0% in the first quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock valued at $973,884,000 after buying an additional 1,859,744 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of The Blackstone Group L.P. by 15.8% in 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 buying an additional 2,565,390 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of The Blackstone Group L.P. by 6.9% in 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 buying an additional 841,476 shares in the last quarter. Bank of Montreal Can increased its stake in shares of The Blackstone Group L.P. by 107.7% in 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 buying an additional 5,951,587 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of The Blackstone Group L.P. by 2.0% in the first quarter. Clearbridge Investments LLC now owns 6,422,392 shares of the asset manager’s stock valued at $190,745,000 after buying an additional 125,477 shares in the last quarter. 46.63% of the stock is owned by institutional investors and hedge funds.

The Blackstone Group L.P. (NYSE BX) opened at 32.53 on Thursday. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 14.63 and a beta of 1.32. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The stock’s 50 day moving average price is $33.21 and its 200-day moving average price is $31.50.

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 the Thomson Reuters’ 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 firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business earned $0.44 EPS. Analysts forecast that The Blackstone Group L.P. will post $2.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors 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 dividend on an annualized basis and a dividend yield of 6.64%. The Blackstone Group L.P.’s dividend payout ratio (DPR) is presently 97.30%.

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A number of equities research analysts have recently weighed in on the company. Vetr raised The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price target for the company in a research note on Thursday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price target (up from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Credit Suisse Group cut their price target on The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. Zacks Investment Research downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $41.00 price target (up from $40.00) on shares of The Blackstone Group L.P. in a research note on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.34.

In related news, insider Joan Solotar sold 30,500 shares of The Blackstone Group L.P. stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $33.31, for a total value of $1,015,955.00. Following the sale, the insider now owns 150,281 shares of the company’s stock, valued at approximately $5,005,860.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of The Blackstone Group L.P. stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The disclosure for this sale can be found here. 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.

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

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