LPL Financial LLC trimmed its position in Blackstone Inc. (NYSE:BX – Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,299,991 shares of the asset manager’s stock after selling 13,009 shares during the quarter. LPL Financial LLC owned about 0.18% of Blackstone worth $200,380,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Redwood Financial Network Corp increased its stake in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after acquiring an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its stake in Blackstone by 0.9% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after acquiring an additional 69 shares during the last quarter. MidWestOne Financial Group Inc. increased its stake in Blackstone by 0.8% during the third quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock worth $1,424,000 after acquiring an additional 70 shares during the last quarter. Parcion Private Wealth LLC increased its stake in Blackstone by 0.6% during the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 70 shares during the last quarter. Finally, Trivium Point Advisory LLC increased its stake in Blackstone by 2.6% during the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after acquiring an additional 70 shares during the last quarter. 70.00% of the stock is owned by institutional investors.
Key Stories Impacting Blackstone
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Blackstone is helping launch a $35 billion AI infrastructure financing platform with Broadcom and Apollo, with the initial capital aimed at expanding Anthropic’s compute capacity. Investors may view this as a high-profile growth opportunity tied to AI demand. Article Title
- Positive Sentiment: Reuters reported that Blackstone’s private wealth inflows improved in June, which suggests fundraising momentum may be stabilizing and could support future fee-related earnings. Article Title
- Positive Sentiment: Blackstone is also increasing investments in significant risk transfers, a growing market where banks seek balance-sheet relief and Blackstone can earn attractive returns and fees. Article Title
- Neutral Sentiment: Blackstone presented at the Morgan Stanley U.S. Financials Conference, but no major new operating catalyst was indicated in the transcript headline. Article Title
- Negative Sentiment: State regulators are reportedly recommending reversal of Blackstone’s $400 million TXNM Energy acquisition, citing legal violations. That raises execution and regulatory risk for the firm’s dealmaking business. Article Title
- Negative Sentiment: Rothschild & Co Redburn lowered its price target on Blackstone to $130 from $134 and kept a neutral rating, which may reinforce a more cautious view of near-term upside. Article Title
Blackstone Trading Up 5.1%
Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business 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 business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. Analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. UBS Group reduced their price objective on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Zacks Research lowered Blackstone from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Blackstone in a research report on Monday. They set a “buy” rating for the company. Sanford C. Bernstein assumed coverage on Blackstone in a research report on Monday. They set an “outperform” rating for the company. Finally, Argus dropped their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Thirteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $150.86.
Get Our Latest Stock Report on Blackstone
Insider Activity
In other news, Director Ruth Porat purchased 355 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This represents a 0.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 12,355,303 shares of company stock valued at $264,789,896. Company insiders own 1.00% of the company’s stock.
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.
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