Bradley Foster & Sargent Inc. CT Buys New Holdings in The Blackstone Group L.P. (NYSE:BX)

Bradley Foster & Sargent Inc. CT bought a new stake in shares of The Blackstone Group L.P. (NYSE:BX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,375 shares of the asset manager’s stock, valued at approximately $213,000.

Several other large investors have also made changes to their positions in BX. Waldron LP purchased a new position in shares of The Blackstone Group L.P. during the first quarter valued at approximately $661,000. Tocqueville Asset Management L.P. boosted its holdings in shares of The Blackstone Group L.P. by 15.3% in the first quarter. Tocqueville Asset Management L.P. now owns 14,350 shares of the asset manager’s stock valued at $426,000 after purchasing an additional 1,900 shares during the period. HPM Partners LLC purchased a new stake in shares of The Blackstone Group L.P. in the first quarter valued at approximately $615,000. Pekin Singer Strauss Asset Management IL boosted its holdings in shares of The Blackstone Group L.P. by 70.9% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 38,125 shares of the asset manager’s stock valued at $1,132,000 after purchasing an additional 15,818 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of The Blackstone Group L.P. by 12.9% in the first 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 period. Institutional investors and hedge funds own 46.58% of the company’s stock.

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BX has been the subject of a number of research reports. Deutsche Bank AG boosted their price target on The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a report on Friday, July 21st. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $37.55 price objective for the company in a research note on Wednesday, June 7th. Jefferies Group LLC reissued a “buy” rating and issued a $38.00 price objective on shares of The Blackstone Group L.P. in a research note on Wednesday, June 28th. BidaskClub downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. boosted their price objective 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The Blackstone Group L.P. currently has an average rating of “Buy” and a consensus target price of $37.34.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 33.17 on Friday. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 14.91 and a beta of 1.34. The firm has a 50-day moving average of $32.33 and a 200 day moving average of $31.75.

The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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 18.97%. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Equities analysts forecast that The Blackstone Group L.P. will post $2.80 earnings per share for the current fiscal year.

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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