The Blackstone Group Inc. (NYSE:BX) – Analysts at Piper Sandler raised their Q3 2021 earnings per share (EPS) estimates for The Blackstone Group in a report issued on Monday, October 11th. Piper Sandler analyst S. Mody now expects that the asset manager will post earnings of $0.89 per share for the quarter, up from their previous estimate of $0.77. Piper Sandler also issued estimates for The Blackstone Group’s Q1 2022 earnings at $0.90 EPS, Q3 2022 earnings at $1.00 EPS and FY2022 earnings at $3.90 EPS.
Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 12th. increased their price objective on shares of The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 12th. Morgan Stanley raised their price target on shares of The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, July 20th. Argus raised their price target on shares of The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of The Blackstone Group from a “hold” rating to a “buy” rating and raised their price target for the company from $103.00 to $135.00 in a research report on Wednesday, August 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, The Blackstone Group has an average rating of “Buy” and a consensus target price of $98.55.
The Blackstone Group (NYSE:BX) last released its quarterly earnings data on Wednesday, July 21st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.92 billion. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The business’s revenue was up 90.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS.
The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were given a dividend of $0.8475 per share. The ex-dividend date was Friday, July 30th. This represents a $3.39 annualized dividend and a dividend yield of 2.86%. The Blackstone Group’s dividend payout ratio is currently 105.66%.
In other news, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $129.00, for a total transaction of $476,397.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lifesciences Iii L.P. Clarus purchased 150,000 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The shares were bought at an average price of $16.00 per share, with a total value of $2,400,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 215,657 shares of company stock worth $5,046,801 and have sold 507,808 shares worth $40,144,228. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in BX. Marshall Wace LLP purchased a new position in The Blackstone Group in the 1st quarter valued at approximately $50,000. Principal Financial Group Inc. grew its stake in The Blackstone Group by 12.3% in the 1st quarter. Principal Financial Group Inc. now owns 54,083 shares of the asset manager’s stock valued at $4,031,000 after buying an additional 5,919 shares in the last quarter. New York State Common Retirement Fund grew its stake in The Blackstone Group by 24.7% in the 1st quarter. New York State Common Retirement Fund now owns 3,366 shares of the asset manager’s stock valued at $251,000 after buying an additional 666 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in The Blackstone Group by 213.0% in the 1st quarter. Acadian Asset Management LLC now owns 11,865 shares of the asset manager’s stock valued at $884,000 after purchasing an additional 8,074 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in The Blackstone Group by 9.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 18,846 shares of the asset manager’s stock valued at $1,405,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.
The Blackstone Group Company Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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