Blackstone Group (NYSE:BX) posted its quarterly earnings results on Thursday. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07, Morningstar.com reports. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. The business’s quarterly revenue was down 43.5% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS.
Shares of BX stock opened at $45.63 on Friday. Blackstone Group has a 12-month low of $26.88 and a 12-month high of $47.93. The company has a market cap of $30.06 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.04 and a beta of 1.47. The company’s 50-day moving average price is $44.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.
The firm also recently announced a dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 26th. Blackstone Group’s dividend payout ratio (DPR) is currently 65.49%.
In related news, Director Bennett J. Goodman sold 115,000 shares of Blackstone Group stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total transaction of $4,551,700.00. Following the completion of the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone III purchased 30,894 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of $24.49 per share, with a total value of $756,594.06. The disclosure for this purchase can be found here. Insiders have purchased a total of 684,152 shares of company stock valued at $16,550,984 over the last three months. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Resources Investment Advisors Inc. raised its stake in shares of Blackstone Group by 606.0% in the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock worth $25,000 after acquiring an additional 606 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Blackstone Group by 69.4% in the first quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after acquiring an additional 300 shares during the last quarter. Investors Research Corp bought a new position in shares of Blackstone Group in the first quarter worth about $28,000. Centaurus Financial Inc. raised its stake in shares of Blackstone Group by 194.0% in the first quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock worth $30,000 after acquiring an additional 683 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Blackstone Group in the first quarter worth about $32,000. 47.26% of the stock is owned by hedge funds and other institutional investors.
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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