Fairfield Bush & CO. Takes Position in The Blackstone Group L.P. (BX)

Fairfield Bush & CO. purchased a new stake in shares of The Blackstone Group L.P. (NYSE:BX) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,900 shares of the asset manager’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC bought a new position in The Blackstone Group L.P. during the 2nd quarter valued at $116,000. Winslow Evans & Crocker Inc. boosted its stake in The Blackstone Group L.P. by 1.4% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock valued at $117,000 after purchasing an additional 50 shares in the last quarter. PHH Investments Ltd. bought a new position in The Blackstone Group L.P. during the 1st quarter valued at $134,000. Omnia Family Wealth LLC boosted its stake in The Blackstone Group L.P. by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its stake in The Blackstone Group L.P. by 72.1% during the 1st quarter. Archford Capital Strategies LLC now owns 5,088 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 2,131 shares in the last quarter. 46.62% of the stock is owned by hedge funds and other institutional investors.

Shares of The Blackstone Group L.P. (NYSE BX) traded up 0.045% during midday trading on Wednesday, hitting $33.095. The stock had a trading volume of 633,151 shares. The Blackstone Group L.P. has a 52 week low of $23.33 and a 52 week high of $35.09. The stock has a 50-day moving average of $32.53 and a 200 day moving average of $32.11. The stock has a market cap of $21.37 billion, a PE ratio of 14.908 and a beta of 1.33.

The Blackstone Group L.P. (NYSE:BX) last released its earnings results 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 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 for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $0.44 EPS. Analysts anticipate that The Blackstone Group L.P. will post $2.77 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of The Blackstone Group L.P. in a research note on Wednesday, June 28th. BidaskClub lowered The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. increased their price target on The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Vetr lowered The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price target for the company. in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG increased their price target on The Blackstone Group L.P. from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The Blackstone Group L.P. presently has a consensus rating of “Buy” and an average target price of $37.72.

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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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