Quadrant Private Wealth Management LLC Increases Stock Holdings in Blackstone Inc. $BX

Quadrant Private Wealth Management LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 28.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,947 shares of the asset manager’s stock after purchasing an additional 6,430 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Blackstone were worth $3,329,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BX. Vanguard Group Inc. lifted its holdings in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after acquiring an additional 840,258 shares during the last quarter. Morgan Stanley raised its position in Blackstone by 2.0% in the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after purchasing an additional 636,613 shares during the period. State Street Corp lifted its stake in shares of Blackstone by 0.6% in the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after purchasing an additional 179,213 shares during the last quarter. Norges Bank purchased a new position in shares of Blackstone during the 4th quarter worth $1,275,747,000. Finally, Northern Trust Corp raised its holdings in Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after buying an additional 329,379 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of several research analyst reports. Piper Sandler increased their target price on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. The Goldman Sachs Group decreased their price objective on shares of Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Barclays dropped their target price on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating for the company in a report on Thursday, July 9th. BMO Capital Markets upped their price target on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.52.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

Blackstone Trading Down 1.6%

Shares of BX stock opened at $126.96 on Friday. The stock has a market capitalization of $94.32 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.39 and a beta of 1.58. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day moving average price of $119.92 and a 200 day moving average price of $125.90.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company posted $1.11 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Blackstone Inc. will post 5.89 EPS for the current fiscal 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 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone 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.