450,970 Shares in Blackstone Inc. $BX Bought by Callodine Capital Management LP

Callodine Capital Management LP purchased a new stake in shares of Blackstone Inc. (NYSE:BX) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 450,970 shares of the asset manager’s stock, valued at approximately $51,857,000. Blackstone makes up 3.6% of Callodine Capital Management LP’s investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after acquiring an additional 177 shares in the last quarter. United Bank lifted its stake in shares of Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new stake in Blackstone in the second quarter worth $1,124,000. Finally, Sei Investments Co. raised its holdings in Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

Analyst Ratings Changes

A number of brokerages have recently commented on BX. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. BMO Capital Markets boosted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Rothschild & Co Redburn decreased their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. BNP Paribas Exane reduced their price objective on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Evercore restated an “outperform” rating and set a $150.00 price objective on shares of Blackstone in a research note on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.76.

Blackstone Trading Up 4.2%

Shares of BX stock opened at $129.72 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The stock has a market capitalization of $96.36 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.41 and a beta of 1.58. The firm’s 50 day moving average is $120.33 and its 200 day moving average is $124.84.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 103.80%.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 10,252,345 shares of company stock valued at $209,789,893 in the last 90 days. 1.00% of the stock is owned by insiders.

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.