Atlas Wealth LLC Purchases New Stake in Blackstone Inc. $BX

Atlas Wealth LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,077 shares of the asset manager’s stock, valued at approximately $584,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Greenup Street Wealth Management LLC raised its position in shares of Blackstone by 1,034.3% during the fourth quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock worth $2,149,000 after purchasing an additional 12,711 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Blackstone by 9.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock valued at $15,561,000 after buying an additional 8,321 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Blackstone by 8.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 249,009 shares of the asset manager’s stock worth $39,543,000 after purchasing an additional 19,603 shares in the last quarter. Benson Investment Management Company Inc. purchased a new stake in Blackstone in the 4th quarter worth approximately $5,856,000. Finally, Vanguard Group Inc. grew its stake in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after purchasing an additional 840,258 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

More 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BX shares. Morgan Stanley cut their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Sanford C. Bernstein started coverage on Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. Rothschild & Co Redburn dropped their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. TD Cowen lowered their price objective on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Barclays dropped 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. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.52.

Blackstone Stock Performance

Shares of BX opened at $126.96 on Friday. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $119.92 and its two-hundred day simple moving average is $125.90. The stock has a market capitalization of $94.32 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.39 and a beta of 1.58.

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 analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. Blackstone’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts predict that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

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

Insider Buying and Selling at Blackstone

In other news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 10,252,345 shares of company stock worth $209,789,893 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.