Weiss Asset Management LP Trims Stake in Blackstone Inc. $BX

Weiss Asset Management LP decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 87.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,854 shares of the asset manager’s stock after selling 214,277 shares during the period. Weiss Asset Management LP’s holdings in Blackstone were worth $3,433,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew its holdings in Blackstone by 9.0% in the 4th 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. Greenup Street Wealth Management LLC boosted its position in shares of Blackstone by 1,034.3% in the fourth quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock worth $2,149,000 after acquiring an additional 12,711 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Blackstone by 8.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 249,009 shares of the asset manager’s stock valued at $39,543,000 after purchasing an additional 19,603 shares during the period. Benson Investment Management Company Inc. purchased a new position in Blackstone during the fourth quarter worth approximately $5,856,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Blackstone by 1.2% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $129.72 on Monday. The firm has a market cap of $96.36 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock has a 50-day simple moving average of $120.33 and a 200-day simple moving average of $124.58.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company posted $0.98 EPS. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

Analyst Ratings Changes

Several research analysts recently weighed in on BX shares. Royal Bank Of Canada increased their target price on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded Blackstone to a “hold” rating in a research note on Monday, July 20th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. TD Cowen boosted their target price on Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. Finally, Evercore restated an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a report on Tuesday, April 21st. Thirteen investment 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 currently has an average rating of “Moderate Buy” and an average price target of $147.76.

Insider Activity

In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the purchase, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This represents a 10.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 10,252,345 shares of company stock worth $209,789,893 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

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.