Blackstone Group LP (NYSE:bx) declared a quarterly dividend on Thursday, April 20th. Shareholders of record on Monday, May 1st will be given a dividend of 0.87 per share by the asset manager on Monday, May 8th. This represents a $3.48 annualized dividend and a yield of 11.52%. The ex-dividend date is Thursday, April 27th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.47.
Blackstone Group has raised its dividend by an average of 22.1% per year over the last three years and has raised its dividend every year for the last 4 years. Blackstone Group has a payout ratio of 68.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Blackstone Group to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 59.1%.
Blackstone Group (NYSE:BX) traded up 0.8448% on Friday, reaching $30.4753. 8,018,748 shares of the company’s stock traded hands. Blackstone Group has a 52 week low of $22.45 and a 52 week high of $31.69. The firm has a market capitalization of $19.57 billion, a P/E ratio of 19.4980 and a beta of 1.42. The stock has a 50-day moving average of $29.68 and a 200 day moving average of $28.14. Blackstone Group also was the recipient of unusually large options trading activity on Thursday. Stock traders bought 3,656 put options on the company. This is an increase of approximately 1,161% compared to the typical volume of 290 put options.
Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, April 20th. The asset manager reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The firm earned $1.94 billion during the quarter, compared to the consensus estimate of $1.60 billion. Blackstone Group had a net margin of 20.08% and a return on equity of 15.59%. The firm’s revenue was up 108.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities analysts expect that Blackstone Group will post $2.81 EPS for the current fiscal year.
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A number of equities analysts have commented on the stock. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $33.18 price objective for the company. in a report on Wednesday. Zacks Investment Research downgraded shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Friday, April 7th. Deutsche Bank AG assumed coverage on shares of Blackstone Group in a report on Monday, February 27th. They issued a “buy” rating for the company. Credit Suisse Group AG set a $40.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Blackstone Group in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.15.
In other news, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $30.72, for a total transaction of $614,400.00. Following the completion of the transaction, the insider now owns 161,556 shares of the company’s stock, valued at $4,963,000.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bennett J. Goodman sold 635,075 shares of the company’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $30.26, for a total transaction of $19,217,369.50. Following the completion of the sale, the director now directly owns 315,331 shares of the company’s stock, valued at approximately $9,541,916.06. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Blackstone Group Company Profile
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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