Hodges Capital Management Inc. reduced its position in shares of The Blackstone Group L.P. (NYSE:BX) by 4.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,756 shares of the asset manager’s stock after selling 549 shares during the period. Hodges Capital Management Inc.’s holdings in The Blackstone Group L.P. were worth $359,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in 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 worth $382,695,000 after buying an additional 5,951,587 shares in the last quarter. Janus Capital Management LLC boosted its stake in 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 worth $556,990,000 after buying an additional 2,565,390 shares in the last quarter. Morgan Stanley boosted its stake in 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 worth $973,884,000 after buying an additional 1,859,744 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in The Blackstone Group L.P. by 1,500.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,600,000 shares of the asset manager’s stock worth $47,520,000 after buying an additional 1,500,000 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in The Blackstone Group L.P. by 64.9% in the first quarter. Wellington Management Group LLP now owns 3,642,621 shares of the asset manager’s stock worth $108,186,000 after buying an additional 1,433,649 shares in the last quarter. Institutional investors and hedge funds own 45.89% of the company’s stock.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 33.40 on Thursday. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The company has a 50-day moving average of $33.64 and a 200-day moving average of $31.40. The firm has a market capitalization of $21.60 billion, a PE ratio of 17.31 and a beta of 1.32.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results 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 business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.20%. During the same period last year, the company earned $0.44 earnings per share. Equities research analysts predict that The Blackstone Group L.P. will post $2.85 EPS for the current fiscal year.

The firm 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. This represents a $2.16 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date was Thursday, July 27th. The Blackstone Group L.P.’s dividend payout ratio (DPR) is 97.30%.

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A number of analysts have recently weighed in on BX shares. Vetr cut shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $33.18 price target on the stock. in a report on Wednesday, April 19th. Citigroup Inc. upgraded shares of The Blackstone Group L.P. from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $40.00 in a report on Monday, May 22nd. BidaskClub upgraded shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC raised their price target on shares of The Blackstone Group L.P. from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 23rd. Finally, Oppenheimer Holdings, Inc. raised their price target on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.42.

In related news, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $32.53, for a total value of $650,600.00. Following the completion of the transaction, the insider now directly owns 121,556 shares of the company’s stock, valued at $3,954,216.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total value of $390,750,000.00. The disclosure for this sale can be found here. Insiders sold 15,050,500 shares of company stock valued at $392,416,555 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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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