Blackstone (NYSE:BX) Issues Earnings Results

Blackstone (NYSE:BX) posted its earnings results on Thursday. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18, FiscalAI reports. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the company posted $0.98 EPS. The company’s quarterly revenue was up 35.9% compared to the same quarter last year.

Here are the key takeaways from Blackstone’s conference call:

• Blackstone reported distributed earnings of $2.0 billion in Q2, up 26% year over year, with fee-related earnings up 22% and total inflows near $70 billion. AUM hit a record $1.35 trillion, underscoring broad fundraising momentum.
• The firm said AI infrastructure is now a major growth driver, especially in data centers, power, and frontier AI companies. Management highlighted new initiatives including the BXDC data center REIT, a Google TPU cloud venture, and large-scale AI-related capital solutions.
• Blackstone described strong performance across private wealth and insurance, with wealth AUM up 16% to $324 billion and insurance AUM up 15% to $290 billion. It also pointed to new partnerships such as Nippon Life and the launch of new products with Wellington and Vanguard.
• Management reiterated that base management fees should grow at a double-digit rate in 2027, supported by deployment in drawdown funds, the scaling of perpetual vehicles, and strong credit dry powder. They also said transaction fees and fee-related performance revenues are becoming a more important part of earnings.
• Realizations improved, with net realizations up 27% year over year and the firm’s accrued performance revenue reaching a four-year high of $7.5 billion. Blackstone expects realizations to be stronger in 4Q and into 2027, helped by a stronger IPO market and improving exit conditions.

Blackstone Stock Performance

Shares of Blackstone stock opened at $129.72 on Friday. The stock has a market cap of $96.36 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.35 and a beta of 1.58. 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 has a 1 year low of $101.73 and a 1 year high of $190.09. The firm’s 50-day moving average is $120.33 and its 200 day moving average is $124.84.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a $1.29 dividend. The ex-dividend date of this dividend 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 payout ratio is presently 103.80%.

Blackstone News Summary

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

Insider Activity

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction on 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 acquisition, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 10,252,345 shares of company stock valued at $209,789,893. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Strive Asset Management LLC purchased a new stake in Blackstone in the third quarter worth approximately $30,000. IFC & Insurance Marketing Inc. bought a new position in shares of Blackstone during the 4th quarter valued at $33,000. Kelleher Financial Advisors bought a new stake in shares of Blackstone in the third quarter worth $34,000. Caitong International Asset Management Co. Ltd bought a new position in Blackstone in the fourth quarter valued at about $36,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Blackstone in the fourth quarter worth about $45,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating for the company. Rothschild & Co Redburn lowered their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Barclays upped their price target on Blackstone from $119.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday. Evercore restated an “outperform” rating and set a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $147.76.

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.