The Manufacturers Life Insurance Company Sells 29,192 Shares of Blackstone Inc. $BX

The Manufacturers Life Insurance Company lowered its position in Blackstone Inc. (NYSE:BX) by 6.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 393,620 shares of the asset manager’s stock after selling 29,192 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Blackstone were worth $45,262,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. Sivia Capital Partners LLC raised its position in shares of Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after buying an additional 177 shares during the last quarter. United Bank boosted its position in shares of Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after acquiring an additional 1,729 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Blackstone during the second quarter valued at $1,124,000. Finally, Sei Investments Co. lifted its stake in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is acquiring DarkVision Technologies from Koch Engineered Solutions through funds managed by Blackstone Energy Transition Partners. DarkVision’s AI-powered ultrasound imaging is used to inspect critical industrial infrastructure, expanding Blackstone’s exposure to infrastructure technology, energy transition and industrial reliability. Blackstone Energy Transition Partners Announces Agreement to Acquire DarkVision from Koch Engineered Solutions
• Positive Sentiment: HSBC agreed to sell Blackstone its A$36 billion Australian home and personal loan portfolio, worth approximately US$25.3 billion. The transaction supports Blackstone’s expansion in Australian private credit and marks HSBC’s exit from retail banking in the country, although financial terms and closing details were not disclosed. HSBC to sell $25.3 billion Australian home loan portfolio to Blackstone
• Positive Sentiment: Blackstone’s latest quarterly results showed strong operating momentum: earnings per share reached $1.52 versus a $1.34 consensus estimate, revenue rose 36% year over year to $5.04 billion, and assets under management increased 11% to $1.35 trillion. The company also raised its quarterly dividend to $1.29 from $1.16. Blackstone’s Profit Jumped 26% on AI Bets but the Stock Barely Moved
• Neutral Sentiment: A major Blackstone shareholder purchased 573,614 shares, increasing its position by 7.28%. The purchase may signal insider confidence, but it is unlikely to materially alter the company’s fundamentals. Blackstone Major Shareholder Acquires Shares
• Negative Sentiment: Despite strong earnings and AI-related investment activity, analysts and valuation checks suggest BX may already be fully priced or trading at a premium. That concern appears to be muting the market’s response to the company’s otherwise favorable results. Blackstone Stock May Be Fully Priced as Q2 AI Profit Jumps

Blackstone Trading Down 0.9%

Shares of BX stock opened at $128.26 on Friday. The company has a market cap of $95.28 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $121.47 and its two-hundred day simple moving average is $123.84. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Research analysts predict that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. cut their price target on Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Rothschild & Co Redburn decreased their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Barclays raised their target price on shares of Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Finally, Oppenheimer upped their price target on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.95.

Insider Activity

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 dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 573,614 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were acquired at an average cost of $26.15 per share, for a total transaction of $15,000,006.10. Following the purchase, the insider owned 8,455,758 shares of the company’s stock, valued at approximately $221,118,071.70. The trade was a 7.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 10,825,959 shares of company stock valued at $224,789,900. Company insiders own 1.00% of the company’s stock.

Blackstone 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.