Resona Asset Management Co. Ltd. Acquires 7,409 Shares of Blackstone Inc. $BX

Resona Asset Management Co. Ltd. raised its stake in shares of Blackstone Inc. (NYSE:BX) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,440 shares of the asset manager’s stock after purchasing an additional 7,409 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Blackstone were worth $26,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of BX. Family CFO Inc purchased a new position in shares of Blackstone during the 4th quarter worth about $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone in the fourth quarter worth about $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $29,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter worth approximately $30,000. Finally, Palladiem LLC bought a new stake in shares of Blackstone during the 4th quarter worth approximately $31,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 2.8%

NYSE:BX opened at $121.98 on Friday. The firm has a 50-day simple moving average of $119.65 and a 200-day simple moving average of $126.98. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The firm has a market cap of $90.62 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.29 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 quarterly earnings data 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. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

Analysts Set New Price Targets

Several brokerages have commented on BX. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. BMO Capital Markets upped their price target on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. TD Cowen decreased their price objective on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Piper Sandler upped 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. Finally, Rothschild & Co Redburn reduced their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Activity

In related news, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and TPG are reportedly trying to sell Hologic’s surgical unit for more than $4 billion, a sign of continued private-equity deal activity that could support fee-related earnings and investment returns. Reuters article
• Positive Sentiment: Barclays is preparing an about $875 million debt sale to help finance Blackstone’s senior takeover, highlighting continued transaction momentum around the firm’s private credit and buyout activity. Yahoo Finance article
• Positive Sentiment: Citizens JMP lowered its price target on Blackstone to $165 from $190 but kept an “outperform” view, which still implies meaningful upside and may have helped support sentiment. Benzinga article
• Neutral Sentiment: Barclays also cut its price target to $119 from $124 and maintained an “equal weight” rating, signaling more cautious near-term expectations. Benzinga article
• Neutral Sentiment: Several articles were mostly valuation- or comparison-based pieces about BX, which are less likely to drive the stock on their own. Zacks article
• Negative Sentiment: Blackstone was linked to an AI infrastructure financing structure in which Apollo and Blackstone reportedly shifted Broadcom and Anthropic’s AI chip bet into debt held by other investors, which may raise questions about risk transfer and financing complexity. MSN article

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.