Blackstone Inc. $BX Shares Bought by ABN Amro Investment Solutions

ABN Amro Investment Solutions boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 75.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 70,980 shares of the asset manager’s stock after purchasing an additional 30,580 shares during the quarter. ABN Amro Investment Solutions’ holdings in Blackstone were worth $10,941,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of BX. Vanguard Group Inc. grew its position in shares of Blackstone by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after acquiring an additional 1,335,060 shares during the period. Close Asset Management Ltd grew its position in shares of Blackstone by 16,035.1% during the 3rd 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 during the period. Canada Pension Plan Investment Board grew its position in shares of Blackstone by 115.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after acquiring an additional 583,384 shares during the period. Invesco Ltd. grew its position in shares of Blackstone by 11.3% during the 3rd quarter. Invesco Ltd. now owns 4,107,665 shares of the asset manager’s stock valued at $701,795,000 after acquiring an additional 416,933 shares during the period. Finally, State Street Corp lifted its stake in Blackstone by 1.3% in the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock valued at $5,358,334,000 after buying an additional 412,281 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and Google launched a joint venture to create a new AI cloud company centered on Google’s Tensor Processing Units, expanding Blackstone’s exposure to AI infrastructure growth. Blackstone Announces Joint Venture with Google to Create New TPU Cloud
• Positive Sentiment: Reports say Blackstone is committing $5 billion of equity to the venture, signaling a major investment in AI compute capacity and a potential new earnings growth avenue. Blackstone and Google form AI infrastructure joint venture focused on TPU cloud expansion
• Positive Sentiment: Market commentary suggests the Google deal is strengthening Blackstone’s competitive position in AI infrastructure and helping fuel investor optimism around the stock. Google and Blackstone to Create New AI Cloud Company. The Stocks Are Rising.
• Positive Sentiment: A large shareholder disclosed a major stock purchase, which can reinforce confidence in Blackstone’s outlook even if it is not the main day-to-day catalyst. Insider Buying: Blackstone (NYSE:BX) Major Shareholder Purchases 9,486,795 Shares of Stock
• Neutral Sentiment: Blackstone’s digital infrastructure trust completed the underwriters’ option in full, bringing the IPO proceeds above $2.0 billion; this is supportive for the franchise but is a separate capital-markets event. Blackstone Digital Infrastructure Trust Announces Full Exercise and Closing of Underwriters Option to Purchase Additional Shares in Initial Public Offering
• Neutral Sentiment: TD Cowen trimmed its price target to $133 from $140 but kept a Buy rating, which still implies upside despite a more cautious valuation view. Blackstone (NYSE:BX) Price Target Lowered to $133.00 at TD Cowen
• Negative Sentiment: Blackstone also gave up its pursuit of the €2.5 billion Stroeer deal, a missed acquisition opportunity that may slightly weigh on M&A sentiment. Blackstone gives up pursuit of €2.5 billion Stroeer deal – Bloomberg

Insider Transactions at Blackstone

In related news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was purchased 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 directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This trade represents a 99.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 13,502,092 shares of company stock valued at $294,789,896 and sold 9,128,660 shares valued at $46,457,920. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of BX stock opened at $116.92 on Thursday. 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 has a fifty day moving average price of $117.34 and a 200 day moving average price of $133.92. The company has a market cap of $86.86 billion, a P/E ratio of 29.90, a PEG ratio of 1.25 and a beta of 1.63. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the company earned $1.11 earnings per share. Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. Blackstone’s payout ratio is 118.67%.

Analyst Ratings Changes

Several analysts have recently commented on BX shares. Piper Sandler lifted their price target on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Morgan Stanley dropped their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group dropped their target price on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Citigroup reiterated a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $151.05.

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.