Blackstone (NYSE:BX) Releases Quarterly Earnings Results

Blackstone (NYSE:BXGet Rating) announced its quarterly earnings data on Thursday. The asset manager reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.48, MarketWatch Earnings reports. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company posted $0.96 EPS. Blackstone’s quarterly revenue was down 3.3% on a year-over-year basis.

Blackstone stock traded down $2.03 during midday trading on Friday, hitting $110.59. 7,339,315 shares of the company were exchanged, compared to its average volume of 3,577,359. The business has a fifty day simple moving average of $120.31 and a two-hundred day simple moving average of $127.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $75.96 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. Blackstone has a fifty-two week low of $83.15 and a fifty-two week high of $149.78.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Shareholders of record on Monday, May 2nd will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, April 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 4.77%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is presently 79.02%.

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 33,000 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $31.96, for a total transaction of $1,054,680.00. Following the transaction, the insider now owns 12,531,631 shares in the company, valued at $400,510,926.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $137.38, for a total value of $4,121,400.00. The disclosure for this sale can be found here. Insiders sold 1,111,452 shares of company stock valued at $69,334,658 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Blackstone by 9.0% in the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock worth $1,989,163,000 after acquiring an additional 1,691,281 shares during the last quarter. Deutsche Bank AG grew its position in shares of Blackstone by 45.4% in the fourth quarter. Deutsche Bank AG now owns 1,965,293 shares of the asset manager’s stock valued at $254,289,000 after purchasing an additional 613,449 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Blackstone by 13.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 845,434 shares of the asset manager’s stock valued at $109,391,000 after purchasing an additional 102,468 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Blackstone by 6.4% in the 4th quarter. Allianz Asset Management GmbH now owns 807,408 shares of the asset manager’s stock valued at $104,471,000 after buying an additional 48,802 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Blackstone by 109.5% in the 4th quarter. NewEdge Advisors LLC now owns 59,023 shares of the asset manager’s stock worth $7,637,000 after acquiring an additional 30,844 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

A number of analysts recently issued reports on BX shares. StockNews.com assumed coverage on Blackstone in a report on Thursday, March 31st. They issued a “hold” rating for the company. BMO Capital Markets increased their target price on shares of Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Blackstone from $186.00 to $182.00 and set a “buy” rating for the company in a report on Friday. Bank of America upped their target price on Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup cut their price target on Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $139.73.

Blackstone Company Profile (Get Rating)

Blackstone 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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Earnings History for Blackstone (NYSE:BX)

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