The Blackstone Group L.P. (NYSE:BX) Stake Lifted by FCG Advisors LLC

FCG Advisors LLC raised its stake in The Blackstone Group L.P. (NYSE:BX) by 22.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,708 shares of the asset manager’s stock after acquiring an additional 1,802 shares during the quarter. FCG Advisors LLC’s holdings in The Blackstone Group L.P. were worth $324,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in The Blackstone Group L.P. by 107.7% in the 2nd quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock valued at $382,695,000 after buying an additional 5,951,587 shares during the last quarter. Janus Capital Management LLC increased its position in The Blackstone Group L.P. by 15.8% during the 1st quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock valued at $556,990,000 after purchasing an additional 2,565,390 shares during the period. Morgan Stanley increased its position in The Blackstone Group L.P. by 6.0% during the 1st quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock valued at $973,884,000 after purchasing an additional 1,859,744 shares during the period. Global Thematic Partners LLC acquired a new stake in The Blackstone Group L.P. during the 2nd quarter valued at approximately $57,533,000. Finally, Wellington Management Group LLP increased its position in The Blackstone Group L.P. by 64.9% during the 1st quarter. Wellington Management Group LLP now owns 3,642,621 shares of the asset manager’s stock valued at $108,186,000 after purchasing an additional 1,433,649 shares during the period. 46.63% of the stock is owned by hedge funds and other institutional investors.

BX has been the subject of several recent analyst reports. BidaskClub downgraded shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Vetr raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price objective for the company in a research report on Thursday, August 10th. Deutsche Bank AG increased 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. Keefe, Bruyette & Woods reiterated 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, Zacks Investment Research cut The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. 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 stock. The Blackstone Group L.P. presently has an average rating of “Buy” and an average price target of $37.34.

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The Blackstone Group L.P. (BX) traded down 0.12% on Friday, reaching $32.05. The company’s stock had a trading volume of 473,774 shares. The stock has a market cap of $20.80 billion, a P/E ratio of 14.41 and a beta of 1.34. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The stock has a 50-day moving average of $32.44 and a 200-day moving average of $31.66.

The Blackstone Group L.P. (NYSE:BX) last posted its earnings results on Thursday, July 20th. The asset manager reported $0.59 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 18.97% and a net margin of 22.88%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company posted $0.44 EPS. On average, analysts predict that The Blackstone Group L.P. will post $2.80 EPS for the current fiscal year.

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.

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

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