Allspring Global Investments Holdings LLC Buys 52,163 Shares of Blackstone Inc. $BX

Allspring Global Investments Holdings LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 20.9% in the first quarter, HoldingsChannel reports. The fund owned 301,172 shares of the asset manager’s stock after acquiring an additional 52,163 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Blackstone were worth $34,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BX. Family CFO Inc bought a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Ares Financial Consulting LLC bought a new position in shares of Blackstone during the fourth quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone during the fourth quarter worth approximately $29,000. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter valued at $30,000. Finally, Palladiem LLC acquired a new stake in shares of Blackstone during the 4th quarter worth $31,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Argus lowered their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Barclays reduced their target price on Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Finally, Jefferies Financial Group upped their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. 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.com, Blackstone presently has an average rating of “Moderate Buy” and an average price target of $145.52.

Insider Activity

In related news, insider Vikrant Sawhney sold 30,014 shares of the firm’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 completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the purchase, the insider owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 0.0%

Shares of BX opened at $126.96 on Monday. The stock has a market capitalization of $94.32 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.37 and a beta of 1.58. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a fifty day moving average of $119.92 and a 200-day moving average of $125.70.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during 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 quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

Blackstone News Summary

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.

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.