Published: Fri, April 21, 2017
Electronics | By Jesus Weaver

Blackstone's first-quarter earnings more than double

Envestnet Asset Management Inc. raised its stake in Blackstone Group by 52.0% in the fourth quarter.

Earnings per share (EPS) breaks down the profitability of the company on a single share basis, and for The Blackstone Group L.P. the EPS stands at 0.68 for the previous quarter, while the analysts predicted the EPS of the stock to be 0.64, suggesting the stock exceeded the analysts' expectations. Wagner Bowman Management Corp raised its position in shares of Blackstone Group by 9.4% in the third quarter. Evercore Wealth Management LLC now owns 1,513,562 shares of the company's stock valued at $37,143,000 after buying an additional 5,273 shares in the last quarter. LLC now owns 43,387 shares of the asset manager's stock valued at $1,108,000 after buying an additional 7,936 shares in the last quarter. Sadoff Investment Management LLC increased its stake in The Blackstone Group 1.1% in the third quarter. Walter Keenan Fincl Consulting Company Mi Adv invested in 22,000 shares or 0.32% of the stock.

Shares of Blackstone Group (NYSE:BX) opened at 30.06 on Thursday. Blackstone plans to pay stockholders a dividend of 87 cents a share on May 8, its second-highest distribution. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 18.46 and a beta of 1.42. The Blackstone Group L.P. (NYSE:BX) shares have been recently spotted -3.30% away from the 52-week high, and 41.20% away from the 52-week low mark. BX has recorded a 50-day average of $29.68 and a two hundred day average of $28.13.

ILLEGAL ACTIVITY NOTICE: "Macquarie Group Ltd. Boosts Position in Blackstone Group LP (BX)" was first posted by Community Financial News and is the property of of Community Financial News. Grt Capital Ltd Limited Liability Company invested in 13,830 shares. This is an increase of approximately 1,161% compared to the typical daily volume of 290 put options. The legal version of this article can be read at The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.04.

The company's expected revenue in the current quarter to be 1.59 Billion, seeing a projected current quarter growth of 119.4%, and per annum growth estimates over the next 5 year period of around 24.91%. During the same quarter past year, the firm earned $0.31 EPS. Analysts forecast that Blackstone Group LP will post $2.82 EPS for the current year. Finally, Perkins Capital Management Inc. acquired a new stake in Blackstone Group during the first quarter valued at about $480,000. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and global trademark and copyright law.

Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, January 26th. Finally, Zacks Investment Research downgraded shares of Blackstone Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 31st. Blackstone Group shares last traded at $30.22, with a volume of 12,201,296 shares trading hands. Barclays PLC reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Blackstone Group in a report on Sunday, January 15th. Zacks Investment Research lowered Blackstone Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 31st. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. The stock has an average rating of "Buy" and an average price target of $33.15.

In other news, Director Bennett J. Goodman sold 635,075 shares of the firm's stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $22.66, for a total value of $220,443,210.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 10,000 shares of The Blackstone Group L.P. stock in a transaction on Monday, December 19th. The stock was sold at an average price of $30.72, for a total transaction of $614,400.00. Following the completion of the sale, the insider now directly owns 161,556 shares of the company's stock, valued at approximately $4,963,000.32.

The Blackstone Group L.P. (NYSE:BX) yearly performance is 8.07% and net profit margin is 20.30%.

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