Blackstone (NYSE:BX) Major Shareholder Purchases $15,000,006.10 in Stock

Blackstone Inc. (NYSE:BX) major shareholder Private Multi-Asset Blackstone bought 573,614 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were acquired at an average price of $26.15 per share, for a total transaction of $15,000,006.10. Following the completion of the transaction, the insider owned 8,455,758 shares in the company, valued at approximately $221,118,071.70. This trade represents a 7.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Private Multi-Asset Blackstone also recently made the following trade(s):

• On Tuesday, June 23rd, Private Multi-Asset Blackstone purchased 765,111 shares of Blackstone stock. The stock was bought at an average cost of $26.14 per share, for a total transaction of $20,000,001.54.

Blackstone Stock Down 0.9%

Shares of Blackstone stock opened at $128.26 on Friday. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The business has a fifty day simple moving average of $121.47 and a 200 day simple moving average of $123.84. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The stock has a market cap of $95.28 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Research analysts predict that Blackstone Inc. will post 5.99 EPS for the current year.

Blackstone Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BX. BNP Paribas Exane decreased their target price on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. HSBC reissued a “hold” rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. TD Cowen increased their price objective on shares of Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, BMO Capital Markets boosted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is acquiring DarkVision Technologies from Koch Engineered Solutions through funds managed by Blackstone Energy Transition Partners. DarkVision’s AI-powered ultrasound imaging is used to inspect critical industrial infrastructure, expanding Blackstone’s exposure to infrastructure technology, energy transition and industrial reliability. Blackstone Energy Transition Partners Announces Agreement to Acquire DarkVision from Koch Engineered Solutions
• Positive Sentiment: HSBC agreed to sell Blackstone its A$36 billion Australian home and personal loan portfolio, worth approximately US$25.3 billion. The transaction supports Blackstone’s expansion in Australian private credit and marks HSBC’s exit from retail banking in the country, although financial terms and closing details were not disclosed. HSBC to sell $25.3 billion Australian home loan portfolio to Blackstone
• Positive Sentiment: Blackstone’s latest quarterly results showed strong operating momentum: earnings per share reached $1.52 versus a $1.34 consensus estimate, revenue rose 36% year over year to $5.04 billion, and assets under management increased 11% to $1.35 trillion. The company also raised its quarterly dividend to $1.29 from $1.16. Blackstone’s Profit Jumped 26% on AI Bets but the Stock Barely Moved
• Neutral Sentiment: A major Blackstone shareholder purchased 573,614 shares, increasing its position by 7.28%. The purchase may signal insider confidence, but it is unlikely to materially alter the company’s fundamentals. Blackstone Major Shareholder Acquires Shares
• Negative Sentiment: Despite strong earnings and AI-related investment activity, analysts and valuation checks suggest BX may already be fully priced or trading at a premium. That concern appears to be muting the market’s response to the company’s otherwise favorable results. Blackstone Stock May Be Fully Priced as Q2 AI Profit Jumps

Institutional Trading of Blackstone

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Blackstone during the 4th quarter worth about $1,275,747,000. Capital Research Global Investors increased its position in shares of Blackstone by 99.2% in the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after acquiring an additional 3,178,133 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Blackstone during the first quarter worth about $164,597,000. Amundi grew its stake in Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after purchasing an additional 1,249,269 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of Blackstone by 476.1% during the 4th quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock worth $204,193,000 after purchasing an additional 1,094,307 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.