Macguire Cheswick & Tuttle Investment Counsel LLC lowered its stake in The Blackstone Group L.P. (NYSE:BX) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 232,490 shares of the asset manager’s stock after selling 3,200 shares during the quarter. The Blackstone Group L.P. comprises about 1.5% of Macguire Cheswick & Tuttle Investment Counsel LLC’s portfolio, making the stock its 28th biggest holding. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in The Blackstone Group L.P. were worth $7,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Jacobi Capital Management LLC acquired a new stake in shares of The Blackstone Group L.P. during the second quarter worth about $116,000. Winslow Evans & Crocker Inc. lifted its position in shares of The Blackstone Group L.P. by 1.4% during the second quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock worth $117,000 after purchasing an additional 50 shares in the last quarter. Omnia Family Wealth LLC lifted its position in shares of The Blackstone Group L.P. by 0.5% during the second quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock worth $134,000 after purchasing an additional 20 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in shares of The Blackstone Group L.P. during the second quarter worth about $167,000. Finally, Integrated Investment Consultants LLC lifted its position in shares of The Blackstone Group L.P. by 59.4% during the second quarter. Integrated Investment Consultants LLC now owns 5,100 shares of the asset manager’s stock worth $170,000 after purchasing an additional 1,900 shares in the last quarter. 45.41% of the stock is currently owned by institutional investors.

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BX has been the topic of several research reports. Zacks Investment Research cut shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price target (up previously from $36.00) on shares of The Blackstone Group L.P. in a research report on Monday, July 10th. Vetr cut shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 target price on the stock. in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. raised their target price on shares of 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, Keefe, Bruyette & Woods reaffirmed 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.42.

Shares of The Blackstone Group L.P. (BX) traded down 1.20% during trading on Wednesday, hitting $32.89. 1,976,627 shares of the stock were exchanged. The stock’s 50 day moving average price is $33.20 and its 200 day moving average price is $32.54. The stock has a market cap of $21.34 billion, a PE ratio of 14.79 and a beta of 1.33. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. The Blackstone Group L.P. had a return on equity of 19.90% and a net margin of 22.88%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Equities research analysts predict that The Blackstone Group L.P. will post $2.79 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Monday, October 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, October 27th. The Blackstone Group L.P.’s dividend payout ratio is currently 76.19%.

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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