Financiere des Professionnels Fonds d investissement inc. Purchases New Position in Blackstone Inc. $BX

Financiere des Professionnels Fonds d investissement inc. acquired a new position in Blackstone Inc. (NYSE:BX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,244 shares of the asset manager’s stock, valued at approximately $2,903,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Financial Network Corp increased its stake in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after buying an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC grew its holdings in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after acquiring an additional 69 shares in the last quarter. Parcion Private Wealth LLC increased its position in Blackstone by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 70 shares during the period. Trivium Point Advisory LLC raised its holdings in shares of Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after purchasing an additional 70 shares in the last quarter. Finally, Zacks Investment Management boosted its stake in shares of Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Several recent pieces highlight Blackstone’s upcoming quarterly report and suggest the company may beat earnings expectations again, reinforcing bullish sentiment ahead of results. Blackstone Inc. (BX) Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Blackstone also drew favorable attention for earnings momentum and dividend appeal, with commentary pointing to strong fee-related earnings, large assets under management, and a solid yield profile that may keep income-focused investors interested. Blackstone: The Largest Data Center Investor Is On Sale Yielding 3.8%
• Positive Sentiment: News that Blackstone is building a new APAC infrastructure platform and hiring a senior executive from KKR supports the company’s growth strategy and signals continued expansion in infrastructure investing. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 and kept a neutral rating, which suggests some caution but still implies modest upside from the current share price.
• Neutral Sentiment: RBC Capital also reiterated a buy view on Blackstone, while other commentary around real estate and AI-related ventures adds to the broader narrative but does not appear to be a major immediate catalyst. RBC Capital Remains a Buy on Blackstone Group (BX)

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating for the company. Morgan Stanley reduced their price target on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Citizens Jmp dropped their price objective 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. BMO Capital Markets boosted their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.33.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the acquisition, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 10,252,345 shares of company stock valued at $209,789,893. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.3%

Shares of BX stock opened at $128.73 on Friday. The stock’s fifty day moving average price is $119.85 and its 200 day moving average price is $125.90. 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 Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a market cap of $95.63 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the company earned $1.11 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

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.