Spartan Wealth Advisory Services LLC bought a new stake in Blackstone Inc. (NYSE:BX – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,158 shares of the asset manager’s stock, valued at approximately $708,000.
Several other large investors also recently bought and sold shares of BX. ANB Bank grew its holdings in Blackstone by 7.5% during the 1st quarter. ANB Bank now owns 10,640 shares of the asset manager’s stock valued at $1,223,000 after purchasing an additional 740 shares in the last quarter. IMA Advisory Services Inc. increased its position in shares of Blackstone by 55.0% during the first quarter. IMA Advisory Services Inc. now owns 1,517 shares of the asset manager’s stock worth $174,000 after acquiring an additional 538 shares during the last quarter. Quadrant Private Wealth Management LLC grew its stake in Blackstone by 28.6% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 28,947 shares of the asset manager’s stock valued at $3,329,000 after purchasing an additional 6,430 shares in the last quarter. Heartland Bank & Trust Co boosted its stake in shares of Blackstone by 2.2% during the 1st quarter. Heartland Bank & Trust Co now owns 3,691 shares of the asset manager’s stock valued at $424,000 after buying an additional 81 shares during the last quarter. Finally, Atlas Wealth LLC acquired a new stake in Blackstone in the first quarter valued at $584,000. Institutional investors and hedge funds own 70.00% of the company’s stock.
Insider Activity
In related news, Director Ruth Porat acquired 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the purchase, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. 1.00% of the stock is currently owned by company insiders.
Blackstone Stock Up 0.0%
Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business posted $1.11 EPS. Blackstone’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current year.
Blackstone Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.
Analyst Ratings Changes
Several brokerages have weighed in on BX. BMO Capital Markets raised their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Sanford C. Bernstein assumed coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating on the stock. TD Cowen lowered their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Jefferies Financial Group upped their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Thirteen investment 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $145.52.
Check Out Our Latest Stock Report on BX
Key Blackstone News
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
- Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
- Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
- Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
- Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
- Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.
Blackstone 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.
Featured Stories
- Five stocks we like better than Blackstone
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.
