Jacobson & Schmitt Advisors LLC Purchases 1,014 Shares of The Blackstone Group L.P. (BX)

Jacobson & Schmitt Advisors LLC lifted its position in shares of The Blackstone Group L.P. (NYSE:BX) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,502 shares of the asset manager’s stock after purchasing an additional 1,014 shares during the period. The Blackstone Group L.P. comprises 3.3% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 9th largest position. Jacobson & Schmitt Advisors LLC’s holdings in The Blackstone Group L.P. were worth $4,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pioneer Investment Management Inc. bought a new stake in shares of The Blackstone Group L.P. in the first quarter worth $4,771,000. NEXT Financial Group Inc increased its stake in shares of The Blackstone Group L.P. by 42.4% in the first quarter. NEXT Financial Group Inc now owns 14,016 shares of the asset manager’s stock worth $432,000 after buying an additional 4,173 shares during the last quarter. Baldwin Investment Management LLC increased its stake in shares of The Blackstone Group L.P. by 1.8% in the second quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock worth $382,000 after buying an additional 200 shares during the last quarter. US Bancorp DE increased its stake 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 worth $677,000 after buying an additional 2,612 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its stake in shares of The Blackstone Group L.P. by 3.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 6,701 shares of the asset manager’s stock worth $199,000 after buying an additional 201 shares during the last quarter. 46.63% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages recently issued reports on BX. BidaskClub upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating and issued a $40.00 price target (up previously from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Deutsche Bank AG lifted their price target on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. lifted their price target 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 issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $37.34.

The Blackstone Group L.P. (NYSE BX) traded up 1.27% during mid-day trading on Monday, reaching $32.01. 602,132 shares of the company’s stock traded hands. 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 $20.77 billion, a PE ratio of 14.39 and a beta of 1.34. The firm’s 50-day moving average price is $32.66 and its 200 day moving average price is $31.62.

The Blackstone Group L.P. (NYSE:BX) last issued 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 firm had revenue of $1.55 billion during 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 period last year, the business earned $0.44 earnings per share. Equities research analysts predict that The Blackstone Group L.P. will post $2.81 EPS for the current 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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