Blackstone Inc. $BX Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Blackstone Inc. (NYSE:BX) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,520,908 shares of the asset manager’s stock after acquiring an additional 333,798 shares during the period. Bank of New York Mellon Corp owned about 0.61% of Blackstone worth $519,859,000 at the end of the most recent reporting period.

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

Blackstone Stock Up 1.3%

Shares of BX opened at $128.73 on Friday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company’s fifty day moving average is $119.85 and its two-hundred day moving average is $125.90. The firm has a market cap of $95.63 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company posted $1.11 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts forecast that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 10,252,345 shares of company stock worth $209,789,893. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer boosted their target price on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. BNP Paribas Exane cut their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Piper Sandler lifted their target price on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Finally, Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.33.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Several recent pieces highlight Blackstone’s upcoming quarterly report and suggest the company may beat earnings expectations again, reinforcing bullish sentiment ahead of results. Blackstone Inc. (BX) Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Blackstone also drew favorable attention for earnings momentum and dividend appeal, with commentary pointing to strong fee-related earnings, large assets under management, and a solid yield profile that may keep income-focused investors interested. Blackstone: The Largest Data Center Investor Is On Sale Yielding 3.8%
• Positive Sentiment: News that Blackstone is building a new APAC infrastructure platform and hiring a senior executive from KKR supports the company’s growth strategy and signals continued expansion in infrastructure investing. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 and kept a neutral rating, which suggests some caution but still implies modest upside from the current share price.
• Neutral Sentiment: RBC Capital also reiterated a buy view on Blackstone, while other commentary around real estate and AI-related ventures adds to the broader narrative but does not appear to be a major immediate catalyst. RBC Capital Remains a Buy on Blackstone Group (BX)

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.