Blackstone Group (BX) Releases Earnings Results, Beats Estimates By $0.02 EPS
Blackstone Group (NYSE:BX) announced its quarterly earnings data on Thursday. The asset manager reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02, Briefing.com reports. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. Blackstone Group’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS.
Shares of BX stock opened at $35.44 on Friday. The company has a market capitalization of $24.08 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.32. Blackstone Group has a fifty-two week low of $29.57 and a fifty-two week high of $40.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97.
In other news, insider John G. Finley sold 5,000 shares of Blackstone Group stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the sale, the insider now directly owns 113,003 shares in the company, valued at approximately $4,065,847.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman J Tomilson Hill sold 674,257 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $36.48, for a total value of $24,596,895.36. Following the completion of the transaction, the insider now owns 928,884 shares of the company’s stock, valued at approximately $33,885,688.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 770,677 shares of company stock worth $28,061,444. Corporate insiders own 1.00% of the company’s stock.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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