Pioneer Investment Management Inc. increased its position in shares of The Blackstone Group L.P. (NYSE:BX) by 497.3% during the second quarter, Holdings Channel reports. The fund owned 959,427 shares of the asset manager’s stock after buying an additional 798,797 shares during the period. Pioneer Investment Management Inc.’s holdings in The Blackstone Group L.P. were worth $31,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BX. Oliver Luxxe Assets LLC boosted its position in The Blackstone Group L.P. by 2.3% in the first quarter. Oliver Luxxe Assets LLC now owns 155,589 shares of the asset manager’s stock worth $4,621,000 after buying an additional 3,523 shares during the last quarter. Baldwin Brothers Inc. MA boosted its position in The Blackstone Group L.P. by 13.0% in the first quarter. Baldwin Brothers Inc. MA now owns 441,118 shares of the asset manager’s stock worth $13,101,000 after buying an additional 50,861 shares during the last quarter. Prospera Financial Services Inc boosted its position in The Blackstone Group L.P. by 27.8% in the first quarter. Prospera Financial Services Inc now owns 453,883 shares of the asset manager’s stock worth $13,376,000 after buying an additional 98,833 shares during the last quarter. Walnut Private Equity Partners LLC raised its stake in shares of The Blackstone Group L.P. by 1.7% in the first quarter. Walnut Private Equity Partners LLC now owns 596,819 shares of the asset manager’s stock worth $17,726,000 after buying an additional 9,901 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its stake in shares of The Blackstone Group L.P. by 133.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 35,560 shares of the asset manager’s stock worth $1,056,000 after buying an additional 20,352 shares during the period. 45.89% of the stock is currently owned by institutional investors.

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

The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.03. The Blackstone Group L.P. had a return on equity of 19.20% and a net margin of 22.88%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities analysts anticipate that The Blackstone Group L.P. will post $2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, July 27th. This represents a $2.16 annualized dividend and a yield of 6.47%. The Blackstone Group L.P.’s dividend payout ratio is presently 97.30%.

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A number of analysts have issued reports on the stock. BidaskClub upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Morgan Stanley reiterated 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. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Deutsche Bank AG boosted their price target on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. boosted their price target on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note 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 an average price target of $37.42.

In other news, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total value of $650,600.00. Following the completion of the sale, the insider now owns 121,556 shares of the company’s stock, valued at $3,954,216.68. The disclosure for this sale can be found here. Insiders have sold a total of 15,050,500 shares of company stock worth $392,416,555 over the last 90 days. 1.00% of the stock is owned by company 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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