The Blackstone Group Inc. (NYSE:BX) – Investment analysts at Oppenheimer increased their Q2 2021 earnings per share estimates for The Blackstone Group in a report released on Tuesday, July 20th. Oppenheimer analyst C. Kotowski now expects that the asset manager will earn $0.80 per share for the quarter, up from their previous estimate of $0.79. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for The Blackstone Group’s Q3 2021 earnings at $0.78 EPS and FY2022 earnings at $4.09 EPS.
A number of other brokerages also recently commented on BX. Deutsche Bank Aktiengesellschaft increased their price target on The Blackstone Group from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Citigroup increased their price target on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, July 12th. raised their target price on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, July 12th. Argus raised their target price on The Blackstone Group from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 27th. Finally, Barclays raised their target price on The Blackstone Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, April 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The Blackstone Group has a consensus rating of “Buy” and a consensus price target of $86.42.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Wednesday, April 21st. The asset manager reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.24. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Blackstone Group had a return on equity of 15.52% and a net margin of 26.66%. During the same period last year, the business posted $0.46 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, April 30th. The Blackstone Group’s dividend payout ratio (DPR) is presently 123.77%.
In other news, insider John G. Finley sold 33,404 shares of The Blackstone Group stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $89.88, for a total value of $3,002,351.52. Following the completion of the transaction, the insider now directly owns 363,489 shares in the company, valued at $32,670,391.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 669 shares of The Blackstone Group stock in a transaction on Friday, June 25th. The shares were sold at an average price of $98.93, for a total value of $66,184.17. Following the completion of the transaction, the director now owns 1,283,592 shares of the company’s stock, valued at $126,985,756.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,656,272 shares of company stock valued at $230,663,723. 1.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Howe & Rusling Inc. bought a new stake in The Blackstone Group during the first quarter valued at $25,000. Atlas Private Wealth Advisors bought a new stake in The Blackstone Group during the first quarter valued at $30,000. Mascoma Wealth Management LLC bought a new stake in The Blackstone Group during the first quarter valued at $31,000. Valley Brook Capital Group bought a new stake in The Blackstone Group during the fourth quarter worth about $34,000. Finally, First Horizon Corp lifted its stake in The Blackstone Group by 1,388.9% during the first quarter. First Horizon Corp now owns 536 shares of the asset manager’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. 60.65% of the stock is owned by institutional investors.
About The Blackstone Group
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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