Pinebridge Investments LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) in the 4th quarter, Holdings Channel reports. The firm purchased 118,183 shares of the asset manager’s stock, valued at approximately $18,217,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redwood Financial Network Corp increased its position in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its position in Blackstone by 0.9% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after purchasing an additional 69 shares during the last quarter. MidWestOne Financial Group Inc. increased its position in Blackstone by 0.8% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock worth $1,424,000 after purchasing an additional 70 shares in the last quarter. Parcion Private Wealth LLC increased its position in Blackstone by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 70 shares in the last quarter. Finally, Trivium Point Advisory LLC increased its position in Blackstone by 2.6% during the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Tuesday, April 21st. UBS Group dropped their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Citizens Jmp dropped their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets increased their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $151.05.
Blackstone Price Performance
BX opened at $115.40 on Friday. The company has a fifty day simple moving average of $119.22 and a 200 day simple moving average of $131.72. The firm has a market cap of $85.73 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.25 and a beta of 1.59. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. Equities research analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.
Insider Buying and Selling at Blackstone
In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the acquisition, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the transaction, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 12,355,303 shares of company stock worth $264,789,896. 1.00% of the stock is currently owned by insiders.
Key Headlines Impacting Blackstone
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Blackstone-backed AirTrunk plans to invest $30 billion in India digital infrastructure, highlighting continued growth opportunities in Blackstone’s portfolio and exposure to AI/data-center demand. Blackstone-backed AirTrunk to invest $30B in India digital infrastructure
- Positive Sentiment: Blackstone also remains active on the capital-deployment side, with a new partnership with Nippon Life and the successful IPO of Liftoff Mobile adding to the firm’s deal-making momentum. Blackstone’s Liftoff IPO And Nippon Life Deal Reshape BX Outlook
- Positive Sentiment: The stock also appeared to rebound sharply after an earlier selloff, as some investors viewed the withdrawal cap as a sign of private-credit demand pressures rather than a direct fundamental hit to earnings. Why is Blackstone stock gaining despite a withdrawal cap on its flagship fund?
- Neutral Sentiment: Peer-related headlines from other alternative-asset managers and broader private-credit redemption concerns are adding sector-wide volatility, but they do not directly change Blackstone’s reported quarterly earnings outlook. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
- Negative Sentiment: Blackstone’s decision to limit redemptions at Blackstone Private Credit Fund is the main overhang, as it signals heavier-than-expected withdrawal demand and raises questions about liquidity across private markets. Investors Seek to Pull 10% from Blackstone’s Giant Private-Credit Fund
- Negative Sentiment: Multiple reports that redemption requests surged and that Blackstone capped withdrawals reinforced investor concern about private-credit and private-equity fund liquidity, which has weighed on BX sentiment. Redemption requests rise at Blackstone, Partners Group as private markets strain
About Blackstone
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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