Blackstone Group (BX) Issues Earnings Results
Blackstone Group (NYSE:BX) released its earnings results on Thursday. The asset manager reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08), MarketWatch Earnings reports. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.48 billion. Blackstone Group had a net margin of 22.56% and a return on equity of 16.48%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS.
NYSE:BX traded up $2.69 during trading hours on Friday, hitting $38.62. 28,119,346 shares of the company traded hands, compared to its average volume of 3,473,650. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.75. Blackstone Group has a one year low of $26.88 and a one year high of $40.60. The stock has a market cap of $25.43 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.63 and a beta of 1.43.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.83%. Blackstone Group’s dividend payout ratio (DPR) is presently 102.65%.
In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III bought 109,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $23.95 per share, with a total value of $2,622,525.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 567,316 shares of company stock valued at $13,583,937. Insiders own 1.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Blackstone Group by 17.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 121,771 shares of the asset manager’s stock worth $4,638,000 after acquiring an additional 17,875 shares during the last quarter. Mutual Advisors LLC increased its holdings in Blackstone Group by 12.1% in the 3rd quarter. Mutual Advisors LLC now owns 18,978 shares of the asset manager’s stock worth $723,000 after acquiring an additional 2,049 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in Blackstone Group in the 3rd quarter worth about $736,000. Brown Brothers Harriman & Co. increased its holdings in Blackstone Group by 225.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,650 shares of the asset manager’s stock worth $291,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. increased its holdings in Blackstone Group by 24.4% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 12,237 shares of the asset manager’s stock worth $466,000 after acquiring an additional 2,403 shares during the last quarter. 50.27% of the stock is owned by hedge funds and other institutional investors.
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About Blackstone Group
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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