Blackstone Inc. $BX Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Blackstone Inc. (NYSE:BX) by 8.0% during the first quarter, HoldingsChannel reports. The firm owned 4,520,908 shares of the asset manager’s stock after purchasing an additional 333,798 shares during the quarter. Bank of New York Mellon Corp’s holdings in Blackstone were worth $519,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. Harmony Asset Management LLC lifted its holdings in Blackstone by 14.9% in the 1st quarter. Harmony Asset Management LLC now owns 12,570 shares of the asset manager’s stock worth $1,445,000 after buying an additional 1,626 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Blackstone by 2.5% during the first quarter. Geneos Wealth Management Inc. now owns 6,029 shares of the asset manager’s stock valued at $693,000 after acquiring an additional 148 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Blackstone in the first quarter worth about $115,000. NFSG Corp grew its stake in Blackstone by 9.1% during the 1st quarter. NFSG Corp now owns 2,542 shares of the asset manager’s stock valued at $292,000 after purchasing an additional 212 shares in the last quarter. Finally, SouthState Bank Corp increased its holdings in Blackstone by 1.4% during the 1st quarter. SouthState Bank Corp now owns 118,707 shares of the asset manager’s stock worth $13,650,000 after purchasing an additional 1,655 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the purchase, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $128.73 on Friday. Blackstone Inc. has a 12-month low of $101.73 and a 12-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. The company has a market cap of $95.63 billion, a PE ratio of 32.92, a P/E/G ratio of 1.37 and a beta of 1.58. The stock has a 50 day simple moving average of $119.85 and a 200-day simple moving average of $125.90.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.45 billion. During the same quarter in the previous year, the business earned $1.11 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

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

Blackstone News Roundup

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)

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised their price target 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. Oppenheimer upped their price target on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, April 24th. BNP Paribas Exane decreased their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Argus cut their target price on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, TD Cowen decreased their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.33.

Blackstone Company Profile

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.