The Blackstone Group Inc. (NYSE:BX) – William Blair boosted their Q1 2021 earnings estimates for shares of The Blackstone Group in a report released on Monday, February 1st. William Blair analyst C. Shutler now expects that the asset manager will post earnings per share of $0.74 for the quarter, up from their prior estimate of $0.72. William Blair also issued estimates for The Blackstone Group’s Q2 2021 earnings at $0.77 EPS, Q3 2021 earnings at $0.84 EPS, Q4 2021 earnings at $0.95 EPS, FY2021 earnings at $3.30 EPS and FY2022 earnings at $3.60 EPS.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Tuesday, January 26th. The asset manager reported $1.13 EPS for the quarter, beating the consensus estimate of $0.93 by $0.20. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 73.5% on a year-over-year basis.
Shares of NYSE BX opened at $69.95 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The Blackstone Group has a 12 month low of $33.00 and a 12 month high of $71.50. The company has a 50 day simple moving average of $64.68 and a two-hundred day simple moving average of $57.47. The stock has a market cap of $47.15 billion, a price-to-earnings ratio of 65.37 and a beta of 1.33.
Several hedge funds have recently added to or reduced their stakes in BX. CIBC Private Wealth Group LLC raised its position in shares of The Blackstone Group by 129.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,974,617 shares of the asset manager’s stock valued at $364,074,000 after buying an additional 3,937,002 shares during the period. Alps Advisors Inc. raised its position in shares of The Blackstone Group by 3,305.9% during the 3rd quarter. Alps Advisors Inc. now owns 3,487,000 shares of the asset manager’s stock valued at $5,524,000 after buying an additional 3,384,618 shares during the period. Locust Wood Capital Advisers LLC acquired a new stake in The Blackstone Group in the 3rd quarter valued at approximately $37,789,000. Sound Shore Management Inc CT increased its holdings in The Blackstone Group by 62.2% in the 3rd quarter. Sound Shore Management Inc CT now owns 1,568,401 shares of the asset manager’s stock valued at $81,871,000 after purchasing an additional 601,169 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in The Blackstone Group by 1,528.7% in the 3rd quarter. Advisors Capital Management LLC now owns 628,685 shares of the asset manager’s stock valued at $32,818,000 after purchasing an additional 590,085 shares during the last quarter. 59.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Holdings L.P. Blackstone III purchased 42,425 shares of The Blackstone Group stock in a transaction dated Monday, January 4th. The shares were purchased at an average price of $34.93 per share, with a total value of $1,481,905.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Blackstone Bdc Holdings Llc purchased 997,940 shares of The Blackstone Group stock in a transaction dated Thursday, January 7th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $24,948,500.00. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Monday, February 8th will be paid a $0.7175 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 4.10%. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, February 5th. The Blackstone Group’s dividend payout ratio (DPR) is 93.51%.
The Blackstone Group Company Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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