Walter & Keenan Financial Consulting Co. MI ADV held its stake in The Blackstone Group L.P. (NYSE:BX) during the second quarter, Holdings Channel reports. The institutional investor owned 22,000 shares of the asset manager’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in The Blackstone Group L.P. were worth $734,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC increased its position in shares of The Blackstone Group L.P. by 0.4% in the first quarter. Mosaic Family Wealth LLC now owns 7,063 shares of the asset manager’s stock valued at $210,000 after buying an additional 25 shares during the last quarter. Linscomb & Williams Inc. increased its position in shares of The Blackstone Group L.P. by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 9,113 shares of the asset manager’s stock valued at $271,000 after buying an additional 36 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of The Blackstone Group L.P. by 1.4% in the second 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 last quarter. Donald L. Hagan LLC increased its position in shares of The Blackstone Group L.P. by 1.0% in the first quarter. Donald L. Hagan LLC now owns 10,100 shares of the asset manager’s stock valued at $300,000 after buying an additional 100 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of The Blackstone Group L.P. by 1.5% in the first quarter. Nuveen Asset Management LLC now owns 8,689 shares of the asset manager’s stock valued at $258,000 after buying an additional 126 shares during the last quarter. Institutional investors own 45.89% of the company’s stock.

The Blackstone Group L.P. (NYSE BX) opened at 33.40 on Thursday. The firm has a market cap of $21.60 billion, a P/E ratio of 17.31 and a beta of 1.32. The firm’s 50-day moving average price is $33.64 and its 200 day moving average price is $31.40. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09.

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

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were given 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 yield of 6.47%. The Blackstone Group L.P.’s dividend payout ratio is currently 97.30%.

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Several brokerages have recently commented on BX. BidaskClub downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Deutsche Bank AG boosted their target price on The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Vetr raised The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $37.55 target price on the stock in a report on Wednesday, June 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $37.00 target price on shares of The Blackstone Group L.P. in a report on Friday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $40.00 target price (up from $37.00) on shares of The Blackstone Group L.P. in a report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.42.

In other news, insider John G. Finley sold 20,000 shares of The Blackstone Group L.P. stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total transaction of $650,600.00. Following the transaction, the insider now owns 121,556 shares in the company, valued at $3,954,216.68. The sale was disclosed in a document filed with the SEC, which is available through 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 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 sold 15,050,500 shares of company stock worth $392,416,555 in the last 90 days. Company insiders own 1.00% of the company’s stock.

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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