Blackstone Inc. $BX Holdings Decreased by SteelPeak Wealth LLC

SteelPeak Wealth LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,987 shares of the asset manager’s stock after selling 4,828 shares during the period. SteelPeak Wealth LLC’s holdings in Blackstone were worth $4,253,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BX. Family CFO Inc purchased a new position in Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. acquired a new position in shares of Blackstone in the fourth quarter worth $29,000. Strive Asset Management LLC acquired a new stake in Blackstone during the third quarter valued at $30,000. Finally, Palladiem LLC acquired a new position in Blackstone in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Morgan Stanley decreased their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Argus reduced their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, TD Cowen cut their target price on Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 355 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by insiders.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Several recent pieces highlight Blackstone’s upcoming quarterly report and suggest the company may beat earnings expectations again, reinforcing bullish sentiment ahead of results. Blackstone Inc. (BX) Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Blackstone also drew favorable attention for earnings momentum and dividend appeal, with commentary pointing to strong fee-related earnings, large assets under management, and a solid yield profile that may keep income-focused investors interested. Blackstone: The Largest Data Center Investor Is On Sale Yielding 3.8%
• Positive Sentiment: News that Blackstone is building a new APAC infrastructure platform and hiring a senior executive from KKR supports the company’s growth strategy and signals continued expansion in infrastructure investing. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 and kept a neutral rating, which suggests some caution but still implies modest upside from the current share price.
• Neutral Sentiment: RBC Capital also reiterated a buy view on Blackstone, while other commentary around real estate and AI-related ventures adds to the broader narrative but does not appear to be a major immediate catalyst. RBC Capital Remains a Buy on Blackstone Group (BX)

Blackstone Trading Up 1.3%

Blackstone stock opened at $128.73 on Friday. The business’s 50-day simple moving average is $119.85 and its 200-day simple moving average is $125.90. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The firm has a market capitalization of $95.63 billion, a PE ratio of 32.92, a PEG ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm posted $1.11 EPS. The company’s revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is presently 118.67%.

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.