Leo Wealth LLC Purchases 5,102 Shares of Blackstone Inc. $BX

Leo Wealth LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,102 shares of the asset manager’s stock, valued at approximately $572,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hudock Inc. boosted its stake in shares of Blackstone by 0.3% in the 2nd quarter. Hudock Inc. now owns 22,369 shares of the asset manager’s stock valued at $2,632,000 after purchasing an additional 77 shares during the last quarter. Heartland Bank & Trust Co grew its position in shares of Blackstone by 2.2% during the 1st quarter. Heartland Bank & Trust Co now owns 3,691 shares of the asset manager’s stock worth $424,000 after buying an additional 81 shares during the period. Roman Butler Fullerton & Co. raised its stake in shares of Blackstone by 3.9% during the first quarter. Roman Butler Fullerton & Co. now owns 2,323 shares of the asset manager’s stock worth $273,000 after buying an additional 87 shares during the last quarter. First Horizon Corp lifted its holdings in Blackstone by 3.4% in the first quarter. First Horizon Corp now owns 2,625 shares of the asset manager’s stock valued at $302,000 after buying an additional 87 shares during the period. Finally, GM Advisory Group LLC lifted its holdings in Blackstone by 0.4% in the first quarter. GM Advisory Group LLC now owns 24,918 shares of the asset manager’s stock valued at $2,865,000 after buying an additional 90 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone closed its fifth Energy Transition Partners fund with $8.7 billion in commitments, strengthening its fee-earning asset base and demonstrating continued institutional demand for its private-markets strategies. Kirkland Advises on Close of $8.7 Billion Blackstone Energy Transition Partners V
• Positive Sentiment: Blackstone is participating in a reported $63 billion financing vehicle to acquire AI computing infrastructure from Broadcom and lease it to Anthropic. The transaction could expand Blackstone’s exposure to fast-growing data-center and AI infrastructure markets. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
• Positive Sentiment: The firm opened a new office in Bengaluru, expanding its presence in India and potentially improving its ability to source investments in one of the world’s fastest-growing major economies. Blackstone Opens New Office in Bengaluru
• Positive Sentiment: BMO Capital Markets assigned Blackstone a Buy rating, while broader sell-side coverage moved the shares to a “Moderate Buy” consensus. Analysts have also argued that recent private-credit concerns were overstated and that the stock remains attractively valued. Blackstone Gets a Buy from BMO Capital
• Neutral Sentiment: Blackstone priced $1.1 billion of senior notes, consisting of $600 million due in 2031 and $500 million due in 2033. The financing provides liquidity for corporate needs, but its guaranteed debt adds interest expense and leverage. Blackstone Prices $1.1 Billion Senior Notes Offering

Analysts Set New Price Targets

A number of analysts have commented on the stock. Oppenheimer lifted their target price on shares of Blackstone from $164.00 to $168.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen reduced their price target on Blackstone from $154.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $136.00 to $135.00 and set a “neutral” rating for the company in a research note on Friday, October 23rd. BNP Paribas Exane dropped their price objective on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Piper Sandler set a $126.00 target price on Blackstone in a research note on Friday. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $144.57.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of Blackstone stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $16.40, for a total value of $2,043,440.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 100,000 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $123.80, for a total value of $12,380,000.00. Following the transaction, the director directly owned 771,599 shares of the company’s stock, valued at approximately $95,523,956.20. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 464,792 shares of company stock worth $12,205,945 and sold 4,077,276 shares worth $37,573,644. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 1.9%

BX opened at $116.81 on Wednesday. The business’s 50-day simple moving average is $124.08 and its 200 day simple moving average is $125.03. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $165.14.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.27 billion. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 earnings per share. As a group, research analysts predict that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be issued a dividend of $1.12 per share. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%.

About Blackstone

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.