CI Investments Inc. Sells 7,027 Shares of Blackstone Inc. $BX

CI Investments Inc. trimmed its holdings in Blackstone Inc. (NYSE:BX) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,546 shares of the asset manager’s stock after selling 7,027 shares during the quarter. CI Investments Inc.’s holdings in Blackstone were worth $17,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Family CFO Inc purchased a new position in Blackstone in the fourth quarter worth about $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone during the fourth quarter valued at $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone during the 4th quarter valued at about $29,000. Strive Asset Management LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $30,000. Finally, Palladiem LLC bought a new position in shares of Blackstone in the fourth quarter worth about $31,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 1.0%

Shares of Blackstone stock opened at $122.85 on Thursday. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The firm’s 50 day simple moving average is $120.06 and its two-hundred day simple moving average is $125.05. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $91.26 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.35 and a beta of 1.58.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 EPS. Analysts predict that Blackstone Inc. will post 5.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Barclays dropped their price target on Blackstone from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Rothschild & Co Redburn reduced their price target 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. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Jefferies Financial Group boosted their target price on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.71.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone, Wellington Management, and Vanguard launched two new investment solutions that simplify access to public and private markets, potentially broadening distribution and supporting future fee growth. Article Title
• Positive Sentiment: Blackstone also expanded its strategic push into India infrastructure and AI services, highlighting new growth avenues beyond its core asset-management business. Article Title
• Neutral Sentiment: Investors are waiting for Blackstone’s earnings release, which is expected to provide fresh guidance on fundraising, realizations, and performance across private equity, credit, and real estate. Article Title
• Neutral Sentiment: Keefe, Bruyette & Woods upgraded Blackstone to hold, suggesting a more balanced near-term view rather than a strongly bullish catalyst. Article Title
• Negative Sentiment: Some coverage suggests Blackstone’s private-market products are launching after an exodus from similar private credit funds earlier this year, which may keep investor sentiment cautious around new offerings. Article Title

Insider Transactions at Blackstone

In related news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred 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 transaction, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,252,345 shares of company stock valued at $209,789,893 over the last quarter. Company insiders own 1.00% of the company’s stock.

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.