The Blackstone Group Inc. (BX) is a leading global investment business that invests capital on behalf of pension funds, large institutions, and individuals with about $619 billion in assets under management, as of December 31, 2020.
The company generates income from management and advisory fees, incentive fees, and investments with a portfolio that’s divided into real estate ($187 billion), private equity ($198 billion), hedge fund solutions ($79 billion), and credit and insurance ($154 billion).
Investment income and management fees accounted for most of its revenue during the fourth quarter of 2020 at 49% and 45% of revenue, respectively.
Strong Q4 Performance
The Blackstone Group reported fourth quarter revenue that rose 56% to $2.8 billion, beating consensus estimates by $520 million, along with GAAP earnings of $1.07 per share, beating consensus estimates by 16 cents.
Management attributed the strong performance to a 15% increase in assets under management and strong private equity performance. In particular, corporate private equity saw a 10.6% gain, tactical opportunities saw an 11.3% gain and secondaries saw a 9.4% gain. Fee related earnings also rose 32% over the prior year.
The company raised its quarterly dividend by 77.8% to $0.96 per share, which represents a 5.92% forward yield. The dividend is payable on February 16, 2021 to shareholders on record as of February 8, 2021.
Want to keep track of all dividend increases? Subscribe to Dividend.com and have complete access to our exclusive dividend increases list here.
