The Blackstone Group L.P. (NYSE:BX) announced a quarterly dividend on Thursday, January 28th, Market Beat Ratings reports. Stockholders of record on Monday, February 8th will be paid a dividend of 0.61 per share on Tuesday, February 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 9.71%. This is an increase from The Blackstone Group L.P.’s previous quarterly dividend of $0.49.

Several brokerages recently issued reports on BX. RBC Capital decreased their price target on shares of The Blackstone Group L.P. from $44.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday. Oppenheimer decreased their target price on shares of The Blackstone Group L.P. from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, January 21st. Deutsche Bank lowered their target price on shares of The Blackstone Group L.P. from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, January 19th. TheStreet cut The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Friday, January 15th. Finally, Susquehanna cut their price target on The Blackstone Group L.P. from $44.00 to $41.00 and set a “positive” rating on the stock in a research note on Wednesday, January 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.83.

In related news, major shareholder Group L.P. Blackstone purchased 60,000 shares of The Blackstone Group L.P. stock in a transaction dated Wednesday, November 4th. The stock was purchased at an average cost of $13.79 per share, with a total value of $827,400.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

The Blackstone Group L.P. (NYSE:BX) opened at 25.12 on Friday. The Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $44.43. The stock has a market capitalization of $15.51 billion and a PE ratio of 14.99. The firm has a 50-day moving average price of $27.52 and a 200 day moving average price of $32.95.

The Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, January 28th. The company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.09. During the same period in the previous year, the business posted $1.25 earnings per share. The business earned $877.20 billion during the quarter, compared to analyst estimates of $1.52 billion. The firm’s quarterly revenue was down 59.0% compared to the same quarter last year. Equities analysts anticipate that The Blackstone Group L.P. will post $1.94 earnings per share for the current year.

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, real estate, hedge fund solutions, non-investment grade credit, secondary funds and multi-asset class exposures falling outside of other funds’ mandates. The Company’s segments include Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Company’s Private Equity segment focuses on identifying, managing and creating lasting value for its investors. The Company manages a number of global, European and Asian focused opportunistic real estate funds, several real estate debt investment funds, a real estate investment trust (NYSE:BX). The Company’s Hedge Fund Solutions group consists of Blackstone Alternative Asset Management (BAAM). Its credit business consists of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets.

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