The Blackstone Group L.P. (BX) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its holdings in The Blackstone Group L.P. (NYSE:BX) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,950 shares of the asset manager’s stock after selling 1,250 shares during the period. Bahl & Gaynor Inc.’s holdings in The Blackstone Group L.P. were worth $2,134,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Captrust Financial Advisors acquired a new stake in The Blackstone Group L.P. in the 2nd quarter worth about $619,000. TIAA CREF Investment Management LLC boosted its stake in The Blackstone Group L.P. by 47.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 663,973 shares of the asset manager’s stock worth $22,143,000 after buying an additional 213,880 shares during the last quarter. Raymond James Trust N.A. boosted its stake in The Blackstone Group L.P. by 52.8% in the 2nd quarter. Raymond James Trust N.A. now owns 31,720 shares of the asset manager’s stock worth $1,058,000 after buying an additional 10,955 shares during the last quarter. Stephens Inc. AR boosted its stake in The Blackstone Group L.P. by 17.3% in the 2nd quarter. Stephens Inc. AR now owns 288,422 shares of the asset manager’s stock worth $9,619,000 after buying an additional 42,608 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC boosted its stake in The Blackstone Group L.P. by 0.7% in the 2nd quarter. Jacobson & Schmitt Advisors LLC now owns 148,502 shares of the asset manager’s stock worth $4,953,000 after buying an additional 1,014 shares during the last quarter. 46.63% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of The Blackstone Group L.P. (NYSE BX) traded up 0.62% during midday trading on Friday, hitting $32.29. The company had a trading volume of 2,443,879 shares. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 14.52 and a beta of 1.34. The company’s 50 day moving average is $32.40 and its 200 day moving average is $31.68.

The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings results 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same quarter last year, the company posted $0.44 EPS. Equities analysts forecast that The Blackstone Group L.P. will post $2.80 earnings per share for the current fiscal year.

A number of brokerages have issued reports on BX. Credit Suisse Group decreased their price target on The Blackstone Group L.P. from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 30th. BidaskClub lowered The Blackstone Group L.P. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Vetr raised 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 research note on Thursday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price objective (up from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG lifted their price objective on The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.34.

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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