Blackstone Group LP (NYSE:BX) – Investment analysts at Oppenheimer issued their FY2020 earnings per share (EPS) estimates for Blackstone Group in a research report issued to clients and investors on Monday, October 15th. Oppenheimer analyst L. Rudary anticipates that the asset manager will post earnings per share of $3.66 for the year. Oppenheimer has a “Buy” rating and a $44.00 price target on the stock.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.79 billion. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS.
Shares of NYSE:BX opened at $34.65 on Thursday. The company has a market capitalization of $24.08 billion, a PE ratio of 12.33, a PEG ratio of 1.11 and a beta of 1.32. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. Blackstone Group has a 12 month low of $29.57 and a 12 month high of $40.60.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Monday, October 29th will be given a $0.64 dividend. This is a boost from Blackstone Group’s previous quarterly dividend of $0.58. This represents a $2.56 annualized dividend and a yield of 7.39%. The ex-dividend date of this dividend is Friday, October 26th. Blackstone Group’s dividend payout ratio is 82.56%.
In other news, insider John G. Finley sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total value of $179,900.00. Following the sale, the insider now directly owns 113,003 shares of the company’s stock, valued at approximately $4,065,847.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 10,000 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $35.76, for a total transaction of $357,600.00. Following the completion of the sale, the insider now directly owns 113,003 shares in the company, valued at $4,040,987.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 770,677 shares of company stock valued at $28,061,444. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC bought a new position in shares of Blackstone Group in the third quarter valued at $114,000. Quad Cities Investment Group LLC bought a new position in shares of Blackstone Group in the second quarter valued at $122,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Blackstone Group in the third quarter valued at $175,000. BDO Wealth Advisors LLC bought a new position in shares of Blackstone Group in the first quarter valued at $154,000. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Blackstone Group by 94.9% in the second quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock valued at $156,000 after buying an additional 2,362 shares in the last quarter. 48.73% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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