Royal Fund Management LLC grew its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,212 shares of the asset manager’s stock after buying an additional 4,930 shares during the quarter. Royal Fund Management LLC’s holdings in Blackstone were worth $7,310,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Culbertson A N & Co. Inc. raised its holdings in Blackstone by 6.6% during the third quarter. Culbertson A N & Co. Inc. now owns 15,128 shares of the asset manager’s stock worth $1,696,000 after purchasing an additional 935 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Blackstone in the third quarter worth approximately $93,000. Adams Diversified Equity Fund Inc. bought a new position in Blackstone during the 3rd quarter valued at $14,908,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Blackstone by 5.5% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,799 shares of the asset manager’s stock valued at $202,000 after purchasing an additional 93 shares in the last quarter. Finally, JSF Financial LLC increased its position in shares of Blackstone by 13.2% during the 3rd quarter. JSF Financial LLC now owns 2,417 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 282 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.
Blackstone Stock Performance
BX opened at $118.39 on Friday. The firm has a market cap of $88.86 billion, a PE ratio of 26.48, a P/E/G ratio of 1.35 and a beta of 1.59. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $125.43 and a 200-day simple moving average of $124.15. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $165.14.
Blackstone (NYSE:BX – Get Free Report) last issued its earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. As a group, equities analysts predict that Blackstone Inc. will post 5.85 EPS for the current fiscal year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be given a $1.12 dividend. This is a negative change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, November 2nd. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio is 115.44%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Thursday. Citizens Jmp decreased their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Barclays lowered their target price on Blackstone from $128.00 to $124.00 and set an “equal weight” rating on the stock in a report on Thursday, October 8th. HSBC reiterated a “hold” rating and issued a $135.00 price target on shares of Blackstone in a research report on Monday, July 20th. Finally, Argus upped their price target 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 investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.40.
View Our Latest Analysis on BX
Insider Transactions at Blackstone
In other Blackstone news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the sale, the insider directly owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 464,792 shares of company stock worth $12,205,945 and have sold 4,077,276 shares worth $37,573,644. Company insiders own 1.00% of the company’s stock.
Key Headlines Impacting Blackstone
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
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.
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