Treasury Holdings Blackstone Buys 9,486,795 Shares of Blackstone (NYSE:BX) Stock

Blackstone Inc. (NYSE:BX) major shareholder Treasury Holdings Blackstone purchased 9,486,795 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Blackstone Trading Down 2.3%

BX stock traded down $2.73 on Tuesday, hitting $114.31. 4,795,055 shares of the company were exchanged, compared to its average volume of 7,493,917. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The business’s fifty day moving average is $117.13 and its two-hundred day moving average is $134.38. The stock has a market capitalization of $84.92 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BX. Jain Global LLC bought a new position in Blackstone during the third quarter valued at approximately $9,116,000. Fayez Sarofim & Co raised its position in Blackstone by 1.9% during the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares in the last quarter. Natixis Advisors LLC raised its position in Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after acquiring an additional 142,479 shares in the last quarter. Close Asset Management Ltd raised its position in Blackstone by 16,035.1% during the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Finally, Whittier Trust Co. raised its position in Blackstone by 2.1% during the third quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock valued at $58,337,000 after acquiring an additional 7,053 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Evercore reissued an “outperform” rating and set a $150.00 target price on shares of Blackstone in a research note on Tuesday, April 21st. Oppenheimer raised their price objective on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Argus reduced 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. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $151.05.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and Google announced a joint venture to build a new TPU cloud platform, giving BX exposure to the fast-growing AI infrastructure market and potentially creating a new long-term revenue stream. Blackstone Announces Joint Venture with Google to Create New TPU Cloud
• Positive Sentiment: Reports said the Google partnership could involve about $5 billion of equity capital from Blackstone, underscoring the scale of the deal and its strategic importance. Google and Blackstone Bet $5 Billion on New Newcloud to Challenge CoreWeave
• Neutral Sentiment: Blackstone reportedly abandoned its pursuit of the €2.5 billion Stroeer deal, which removes a potential transaction from the pipeline but does not appear to be the main stock driver today. Blackstone gives up pursuit of €2.5 billion Stroeer deal
• Neutral Sentiment: TD Cowen lowered its price target on BX to $133 from $140 while keeping a buy rating, which suggests some caution but still points to upside from current levels. TD Cowen adjusts price target on Blackstone
• Negative Sentiment: Broader market pressure on tech stocks and higher Treasury yields may be weighing on investor sentiment, which could limit near-term gains in BX despite the positive AI news. 5 Things to Know Before the Stock Market Opens

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.