Blackstone Inc. $BX Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Blackstone Inc. (NYSE:BX) by 17.9% during the 1st quarter, Holdings Channel reports. The firm owned 427,819 shares of the asset manager’s stock after buying an additional 64,966 shares during the quarter. Cetera Investment Advisers’ holdings in Blackstone were worth $49,195,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Family CFO Inc purchased a new position in Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone in the 4th quarter valued at $29,000. Strive Asset Management LLC purchased a new stake in Blackstone in the 3rd quarter worth $30,000. Finally, Palladiem LLC acquired a new position in Blackstone during the fourth quarter worth $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Evercore restated an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a research report on Tuesday, April 21st. HSBC reiterated a “hold” rating and set a $135.00 price target on shares of Blackstone in a research report on Monday. Finally, BNP Paribas Exane lowered their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.76.

Blackstone Price Performance

Shares of BX opened at $129.72 on Friday. The firm has a 50-day simple moving average of $120.33 and a two-hundred day simple moving average of $124.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The stock has a market cap of $96.36 billion, a PE ratio of 29.02, a P/E/G ratio of 1.35 and a beta of 1.58.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. As a group, analysts forecast that Blackstone Inc. will post 5.85 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a $1.29 dividend. The ex-dividend date is Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 4.0%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is presently 103.80%.

Insider Activity

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the purchase, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 10,252,345 shares of company stock worth $209,789,893 in the last quarter. Insiders own 1.00% of the company’s stock.

Trending Headlines about Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

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.