Verity Asset Management Inc. Purchases Shares of 21,217 The Blackstone Group L.P. (BX)

Verity Asset Management Inc. purchased a new position in shares of The Blackstone Group L.P. (NYSE:BX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,217 shares of the asset manager’s stock, valued at approximately $708,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BX. Waldron LP purchased a new stake in shares of The Blackstone Group L.P. in the 1st quarter valued at about $661,000. US Bancorp DE lifted its holdings in shares of The Blackstone Group L.P. by 12.9% in the 1st quarter. US Bancorp DE now owns 22,812 shares of the asset manager’s stock valued at $677,000 after purchasing an additional 2,612 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of The Blackstone Group L.P. by 42.4% in the 1st quarter. NEXT Financial Group Inc now owns 14,016 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 4,173 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of The Blackstone Group L.P. by 5.2% in the 1st quarter. Hodges Capital Management Inc. now owns 11,305 shares of the asset manager’s stock valued at $336,000 after purchasing an additional 554 shares during the last quarter. Finally, Pioneer Investment Management Inc. purchased a new stake in shares of The Blackstone Group L.P. in the 1st quarter valued at about $4,771,000. 46.63% of the stock is owned by institutional investors.

Shares of The Blackstone Group L.P. (BX) traded up 0.62% during trading on Friday, reaching $32.29. The company had a trading volume of 2,443,879 shares. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 14.52 and a beta of 1.34. The stock has a 50 day moving average of $32.40 and a 200 day moving average of $31.68. The Blackstone Group L.P. has a 52-week low of $23.33 and a 52-week 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 (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $1.55 billion during 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. Equities research analysts forecast that The Blackstone Group L.P. will post $2.80 EPS for the current year.

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Several research firms have recently weighed in on BX. Jefferies Group LLC reissued a “buy” rating and issued a $38.00 target price on shares of The Blackstone Group L.P. in a report on Wednesday, June 28th. Citigroup Inc. reissued a “buy” rating and issued a $41.00 target price (up from $40.00) on shares of The Blackstone Group L.P. in a report on Sunday, May 28th. BidaskClub downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Oppenheimer Holdings, Inc. boosted their target price on 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. Finally, Vetr downgraded The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 target price for the company. in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $37.34.

The Blackstone Group L.P. 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.

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

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