Blackstone Inc. $BX Holdings Increased by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in Blackstone Inc. (NYSE:BX) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,193 shares of the asset manager’s stock after acquiring an additional 3,925 shares during the period. Gabelli Funds LLC’s holdings in Blackstone were worth $18,306,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Morningstar Investment Management LLC boosted its stake in Blackstone by 10.0% during the 1st quarter. Morningstar Investment Management LLC now owns 15,435 shares of the asset manager’s stock valued at $1,775,000 after purchasing an additional 1,405 shares in the last quarter. Pennington Partners & CO. LLC raised its stake in shares of Blackstone by 21.4% in the 1st quarter. Pennington Partners & CO. LLC now owns 2,720 shares of the asset manager’s stock worth $313,000 after buying an additional 480 shares in the last quarter. Compound Planning Inc. lifted its holdings in shares of Blackstone by 5.9% in the first quarter. Compound Planning Inc. now owns 23,148 shares of the asset manager’s stock valued at $2,662,000 after buying an additional 1,288 shares during the period. Klingman & Associates LLC grew its holdings in Blackstone by 6.4% during the first quarter. Klingman & Associates LLC now owns 13,362 shares of the asset manager’s stock worth $1,536,000 after acquiring an additional 809 shares during the period. Finally, Modern Wealth Management LLC raised its position in Blackstone by 25.3% in the first quarter. Modern Wealth Management LLC now owns 15,947 shares of the asset manager’s stock worth $1,823,000 after acquiring an additional 3,221 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction 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 trade represents a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ruth Porat purchased 355 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the acquisition, the director owned 41,818 shares in the company, valued at $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 10,252,345 shares of company stock valued at $209,789,893 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

Blackstone Price Performance

Shares of NYSE:BX opened at $129.72 on Friday. The company’s fifty day moving average is $120.33 and its two-hundred day moving average is $124.84. The company has a market cap of $96.36 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a $1.29 dividend. The ex-dividend date is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is currently 103.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BX shares. Piper Sandler lifted their price objective 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. Sanford C. Bernstein began coverage on shares of Blackstone in a report on Monday, June 8th. They set an “outperform” rating for the company. JPMorgan Chase & Co. dropped their price target on Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane cut their target price on Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.76.

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.