Blackstone Inc. $BX Stock: Nisa Investment Advisors LLC Trims Position

Nisa Investment Advisors LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.4% in the third quarter, Holdings Channel reports. The firm owned 78,743 shares of the asset manager’s stock after selling 5,369 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $8,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Blackstone in the second quarter valued at about $6,112,162,000. Bank of America Corp DE acquired a new stake in shares of Blackstone during the second quarter worth about $1,364,373,000. Legal & General Group Plc purchased a new position in shares of Blackstone during the second quarter worth about $605,267,000. Bank of New York Mellon Corp increased its position in Blackstone by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,520,908 shares of the asset manager’s stock valued at $519,859,000 after acquiring an additional 333,798 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Blackstone by 1.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager’s stock valued at $512,250,000 after acquiring an additional 52,755 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 8.0%

Shares of BX opened at $118.39 on Friday. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $165.14. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $88.86 billion, a P/E ratio of 26.48, a PEG ratio of 1.35 and a beta of 1.59. The firm’s 50-day moving average is $125.43 and its two-hundred day moving average is $124.15.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. On average, research analysts predict that Blackstone Inc. will post 5.85 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 2nd. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone reported third-quarter distributable earnings of $1.32 per share, ahead of the $1.26 consensus estimate. Assets under management reached a record approximately $1.37 trillion, while net inflows exceeded $63 billion. Fee-related earnings increased 6%, supporting confidence in the company’s recurring revenue base. Blackstone Inc. Q3 earnings report
• Positive Sentiment: The board declared a $1.12-per-share quarterly dividend, payable November 9. The payout, strong fundraising and continued growth in alternative assets helped offset concerns about near-term earnings volatility. Blackstone Q3 readout
• Positive Sentiment: Investors also continue to see potential from Blackstone’s growth initiatives, including an $8.7 billion energy-transition fund close, expansion of its wealth-management channel and potential investments in artificial intelligence infrastructure. Blackstone energy fund close
• Neutral Sentiment: The earnings reaction reflects a distinction between distributable earnings and GAAP results. Blackstone’s reported GAAP EPS was $0.83, while revenue was $3.06 billion, below the $3.27 billion estimate. Blackstone misses Q3 revenue estimates
• Negative Sentiment: Profitability was pressured by difficult markets and higher interest rates. Private-equity asset-sale proceeds fell 49%, weakening realization-related income, and adjusted earnings declined from the prior year. These factors could continue to make results volatile if exits remain limited. Blackstone core businesses hit by rising rates

Insider Activity

In related news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of Blackstone stock in a transaction on Friday, September 25th. The stock was sold at an average price of $16.40, for a total transaction of $2,043,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Finley sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the sale, the insider owned 516,017 shares in the company, valued at approximately $75,911,260.87. The trade was a 8.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 464,792 shares of company stock valued at $12,205,945 and sold 4,077,276 shares valued at $37,573,644. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Blackstone in a research report on Friday, October 16th. UBS Group dropped their price objective on shares of Blackstone from $122.00 to $116.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. BMO Capital Markets restated an “outperform” rating and issued a $130.00 target price on shares of Blackstone in a research note on Wednesday. Finally, Argus lifted their target price on shares of Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.40.

Blackstone Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.