Oak Ridge Investments LLC Increases Stake in The Blackstone Group L.P. (BX)

Oak Ridge Investments LLC grew its stake in shares of The Blackstone Group L.P. (NYSE:BX) by 118.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,818 shares of the asset manager’s stock after purchasing an additional 7,497 shares during the period. Oak Ridge Investments LLC’s holdings in The Blackstone Group L.P. were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Omnia Family Wealth LLC boosted its stake in shares of 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. Mosaic Family Wealth LLC boosted its stake in The Blackstone Group L.P. by 0.6% during the second quarter. Mosaic Family Wealth LLC now owns 7,108 shares of the asset manager’s stock worth $237,000 after acquiring an additional 45 shares in the last quarter. Linscomb & Williams Inc. boosted its stake in The Blackstone Group L.P. by 0.8% during the second quarter. Linscomb & Williams Inc. now owns 9,182 shares of the asset manager’s stock worth $306,000 after acquiring an additional 69 shares in the last quarter. Gofen & Glossberg LLC IL boosted its stake in The Blackstone Group L.P. by 1.3% during the second quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock worth $282,000 after acquiring an additional 110 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in The Blackstone Group L.P. by 1.5% during the first quarter. Nuveen Asset Management LLC now owns 8,689 shares of the asset manager’s stock worth $258,000 after acquiring an additional 126 shares in the last quarter. 47.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Blackstone Group L.P. (NYSE BX) traded up $0.21 during trading on Friday, reaching $31.78. 2,508,017 shares of the company’s stock traded hands, compared to its average volume of 4,202,630. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $38,160.00, a PE ratio of 11.22, a PEG ratio of 0.57 and a beta of 1.42. The Blackstone Group L.P. has a twelve month low of $25.57 and a twelve month high of $35.09.

The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.71%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. research analysts forecast that The Blackstone Group L.P. will post 2.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 30th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, October 27th. This represents a $1.76 annualized dividend and a dividend yield of 5.54%. The Blackstone Group L.P.’s payout ratio is 75.86%.

Several research firms recently commented on BX. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective (up previously from $37.00) on shares of The Blackstone Group L.P. in a research note on Tuesday, July 25th. Deutsche Bank AG boosted their price objective 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. Bank of America Corporation boosted their price objective on shares of The Blackstone Group L.P. from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. BidaskClub lowered shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of The Blackstone Group L.P. in a research note on Thursday, October 19th. One 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 company presently has an average rating of “Buy” and an average target price of $38.42.

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The Blackstone Group L.P. Company 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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