Seneca House Advisors lessened its stake in Blackstone Inc. (NYSE:BX – Free Report) by 62.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,084 shares of the asset manager’s stock after selling 26,921 shares during the quarter. Seneca House Advisors’ holdings in Blackstone were worth $1,850,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of BX. Jain Global LLC purchased a new position in Blackstone during the third quarter worth approximately $9,116,000. Fayez Sarofim & Co raised its stake in shares of Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after buying an additional 24,237 shares during the period. Greenup Street Wealth Management LLC grew its stake in Blackstone by 1,034.3% in the 4th quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock valued at $2,149,000 after acquiring an additional 12,711 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Blackstone by 9.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock worth $15,561,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Moore Capital Management LP purchased a new position in Blackstone during the third quarter valued at $14,310,000. 70.00% of the stock is owned by institutional investors and hedge funds.
Blackstone News Summary
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Citizens JMP lifted its price target on Blackstone to $165 from $190 and kept an “outperform” view, signaling confidence that the shares still have meaningful upside from current levels. Blackstone (NYSE:BX) Given New $165.00 Price Target at Citizens Jmp
- Positive Sentiment: Blackstone and TPG are reportedly seeking more than $4 billion for Hologic’s surgical unit, underscoring continued private-equity dealmaking activity and potential value creation from large asset sales or acquisitions. Blackstone, TPG seek over $4 billion for Hologic’s surgical unit, FT says
- Positive Sentiment: Reports that Barclays is preparing roughly $875 million of debt financing tied to a Blackstone takeover highlight active transaction flow that can support fees and investment returns for the firm. Market Chatter: Barclays Readies $875 Million Debt Sale for Blackstone’s Senior Takeover
- Neutral Sentiment: Barclays cut Blackstone’s price target to $119 from $124 and kept an “equal weight” rating, reflecting a more cautious near-term view even as the target remains close to the current share price. Blackstone (NYSE:BX) Price Target Lowered to $119.00 at Barclays
- Neutral Sentiment: A separate report said Apollo and Blackstone helped turn Broadcom’s and Anthropic’s AI chip financing into debt for other investors, which is notable but not directly a clear positive or negative catalyst for BX shares. Apollo and Blackstone just turned Broadcom, Anthropic’s AI chip bet into somebody else’s debt
Insider Activity at Blackstone
Blackstone Price Performance
Shares of Blackstone stock traded up $0.82 on Friday, hitting $122.97. 2,568,812 shares of the company were exchanged, compared to its average volume of 4,830,672. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $91.35 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. The company has a 50-day moving average price of $119.72 and a 200 day moving average price of $126.95.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio is currently 118.67%.
Analysts Set New Price Targets
BX has been the topic of a number of research reports. Barclays decreased their price target on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Thursday. Royal Bank Of Canada initiated coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating for the company. Piper Sandler lifted their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, BNP Paribas Exane lowered their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.10.
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.
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