Dai ichi Life Insurance Company Ltd Sells 8,217 Shares of Blackstone Inc. $BX

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,758 shares of the asset manager’s stock after selling 8,217 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Blackstone were worth $2,502,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Strive Asset Management LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at about $30,000. Family CFO Inc bought a new position in shares of Blackstone in the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Blackstone in the 3rd quarter worth $34,000. 70.00% of the stock is currently owned by institutional investors.

Trending Headlines about Blackstone

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 Stock Down 0.2%

BX opened at $129.72 on Monday. The company has a market cap of $96.36 billion, a P/E ratio of 29.02, a P/E/G 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 business’s 50-day moving average price is $120.33 and its 200-day moving average price is $124.58. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.98 EPS. On average, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is presently 103.80%.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade 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 bought 10,252,345 shares of company stock valued at $209,789,893 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. Evercore reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Blackstone in a report on Tuesday, April 21st. Citizens Jmp lowered their price target on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. TD Cowen upped their price objective on Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on Blackstone in a report on Monday, June 8th. They set a “buy” rating on the stock. Finally, Rothschild & Co Redburn cut their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.76.

Blackstone Company 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.