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The Blackstone Group Inc. (BX)

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59.11+0.46 (+0.78%)
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Commodity Channel Index

Commodity Channel Index

Previous Close58.65
Open58.86
Bid59.03 x 1400
Ask59.95 x 800
Day's Range58.58 - 59.48
52 Week Range33.00 - 64.97
Volume3,248,295
Avg. Volume2,955,136
Market Cap41.021B
Beta (5Y Monthly)1.29
PE Ratio (TTM)52.40
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.91 (3.23%)
Ex-Dividend DateNov 06, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Bloomberg

    Why CEOs Are Uniting Against Trump's Election Fight

    (Bloomberg Opinion) -- President Donald Trump has had no more prominent supporter on Wall Street than Stephen Schwarzman, the chief executive officer of the Blackstone Group. Yet on Monday, he said it was time for the president to accept the outcome of the election. And Schwarzman is not alone. His voice is joining a chorus of CEOs.When Dave Calhoun took over as CEO of Boeing Co. late last year, Yahoo Finance noted that since 2017 he had contributed $64,000 to various Republican candidates and committees. “He didn’t contribute to any Democratic candidates or committees over that period,” the website added. Yet on Friday, as Trump continued his futile but damaging effort to overturn election results, Calhoun’s company issued a statement that said bluntly, “We look forward to working with the Biden administration,” according to the New York Times.Facebook’s chief operating officer, Sheryl Sandberg, wrote a post acknowledging the Biden victory and offering special praise for the nation’s first female vice president, Kamala Harris. Late last week, during Walmart Inc.’s quarterly earnings call, CEO Doug McMillon pointedly congratulated “President-elect Joe Biden.” Walmart, the country’s largest private employer, never makes political statements. But it did this time, even though many of its stores are in Trump country.Tom Donohue, the longtime president of the U.S. Chamber of Commerce, is the person most responsible for moving the business organization from a centrist position to a staunch ally of the Republicans. Yet there he was last Thursday, sending a statement to the news website Axios in support of Biden. “Vice President Biden was fairly elected as our next president, and it’s time for the transition to proceed,” Donohue said.CEOs dislike few things as much as openly wading into politics. Making a statement of any sort will inevitably upset customers — or at least those customers who disagree. After Nike built an advertising campaign around Colin Kaepernick, the former professional quarterback whose decision to kneel during the National Anthem sparked a movement, conservatives called for a boycott of the shoe company. And in July, anti-Trump partisans called for a boycott of Goya Foods after its CEO, Robert Unanue, appeared in the Rose Garden and said that the U.S. was “truly blessed” to have Trump as its president. Three weeks after the election, though, far more CEOs have acknowledged the president-elect — and called on the Trump administration to begin the transition — than Republican senators and representatives. The Business Roundtable congratulated “the incoming Biden administration” soon after the Associated Press called the election for Biden. CEOs are realists; if they weren’t, they wouldn’t have the job. They can see that Trump has no chance of overturning the election and that they’ll be dealing with a new Democratic administration soon enough. But getting on the right side of the Biden team is not the main reason they are speaking out. For them, there are two far more compelling reasons.The first is Covid-19. The business community is as focused on the pandemic as everyone else — perhaps more so because of how the virus has affected their operations, their employees and their profits. Eight months into the crisis, with no new rescue package emerging from Congress, mass layoffs are in the offing. While some businesses such as Amazon.com Inc. have thrived, many others have been devastated, particularly airlines and hotels. CEOs absolutely understand that until the pandemic has ended, the economy will continue to suffer.They also understand that Trump’s refusal to concede and begin the transition process is not helping to resolve the pandemic. They know how urgent it is for Biden’s transition team to be involved in planning for the distribution of the vaccine. They would like to see presidential leadership on issues such as wearing masks, taking hold of the distribution of protective equipment for hospitals and carrying out other measures. CEOs are pressing for the transition to begin because it has become important for the short-term future of their companies. And they are hoping that the urgency of their statements will push more Republicans to press the president to begin the transition. But there’s another reason, too. Most CEOs are patriots. It’s been widely reported that almost as soon as it became clear that Trump was going to try to overturn the election results, several dozen CEOs held a Zoom meeting led by Jeffrey Sonnenfeld, the well-known Yale School of Management professor.“Their anxiety was off the charts,” Sonnenfeld told me. “Yes, they didn’t want Trump’s actions to destabilize the markets, but more importantly, they didn’t want a divided work force or a divided customer base.” They were concerned about their companies — but they were also concerned about their country. Axios described this as an example of CEOs “filling the D.C. leadership vacuum.”In some ways, Biden is going to be better for business than Trump — offering more stability and fewer about-faces and surprises. In other ways, he’ll be tougher. He’ll seek higher corporate taxes and increased regulations. But all that can be dealt with after Jan. 20. For now, business needs Trump to get out of the way, and CEOs aren’t afraid to say so.(Corrects the timing of the call for a boycott of Goya Foods in the sixth paragraph.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Blackstone Seeking at Least $5 Billion for Second Asia Fund
    Bloomberg

    Blackstone Seeking at Least $5 Billion for Second Asia Fund

    (Bloomberg) -- Blackstone Group Inc. is doubling down on Asia, seeking to raise at least $5 billion for its second private equity fund focused on the region, people familiar with the matter said.The U.S. investment firm has started marketing the new vehicle to potential investors, according to the people, who asked not to be identified because the information is private. It’s targeting more than double the size of its first Asia buyout fund, which closed at about $2.3 billion in 2018.Blackstone is raising ever-larger pools of capital as dislocations from the coronavirus pandemic offer up more deal opportunities. President Jon Gray has vowed to increase the proportion of Asian investment in its total business, which stood at just under 10% two years ago. In 2018, it raised $7.1 billion for Asia real estate investments. The firm joins KKR & Co., which is in the process of raising at least $12.5 billion for its next Asia fund. TPG, Warburg Pincus and Baring Private Equity Asia raised larger amounts of money earmarked for investment in the region, totaling $15 billion since early 2019.Blackstone could increase the size of its latest vehicle depending on the level of demand in the coming months, the people said. A Hong Kong-based spokeswoman at the firm declined to comment.After roaring ahead in 2017 and 2018, Asia private equity investment declined year-on-year as exits and deal activity plunged in Greater China amid ongoing trade tensions, slowing economic growth and lower level of new renminbi funds, according to Bain & Co. Still, the asset class outperformed public-market benchmarks across different periods, with the top quartile of Asia-focused funds forecasting a net internal rate of return of 16% or higher, the consultant said.Blackstone is betting global managers’ appetite for Asia will continue to increase as the region experiences a faster recovery from the pandemic than rest of the world. Deal flows have started to pick up and could accelerate going into 2021, as a number of transactions halted amid the spread of Covid-19 are expected to come back.China’s economy continued to recover in the third quarter as gross domestic product expanded 4.9%, keeping it on track to be the world’s only major growth engine. Growth in India is projected to rebound 8.8% next year, after contracting 10.3% in 2020, according to an International Monetary Fund forecast.As it now raises new cash, about 66% of its 2018 fund has been invested so far, the people said. Blackstone is pursuing buyout transactions and companies that it has board representation in Japan, Australia, Korea, and less mature markets like China and India where acquisitions for control account for only one-third of total deal-making, one of the people said.Many of Blackstone’s existing holdings are in the consumer, health care and technology industries, which have benefited this year from the shift to online consumption and increased demand for medical services.In August, it agreed to buy Takeda Pharmaceutical Co.’s over-the-counter drug business for 242 billion yen ($2.3 billion), its largest private-equity acquisition in Japan.Last year, Blackstone invested in Indian mortgage lender Aadhar Housing Finance Ltd. and South Korean pharmaceutical distributor Geo-Young.(Updates with other funds in 4th and 6th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Blackstone India Senior Executive Said to Leave End of Next Year

    (Bloomberg) -- Blackstone Group Inc. senior managing director Amit Jain is set to leave the U.S. investment firm at the end of next year, people familiar with the matter said.The Mumbai-based partner will continue working on Blackstone’s first Asia-focused private equity fund until December 2021, according to the people, who asked not to be identified because the information is private. Jain will not be involved in Blackstone’s plan for a second such fund, according to the people.Jain’s departure was first reported by the Mint. A representative for Blackstone declined to comment on the matter.Blackstone aims to raise at least $5 billion for its second buyout fund focused on the region, Bloomberg News has reported.Jain, who joined the private equity group from consultant McKinsey & Co. in 2010, became senior managing director and one of the partners starting in January. He is one of the key investment managers of the first fund.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.