Total Wealth Planning & Management Inc. Buys New Shares in Blackstone Inc. $BX

Total Wealth Planning & Management Inc. bought a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,395 shares of the asset manager’s stock, valued at approximately $677,000.

A number of other hedge funds have also modified their holdings of the stock. Jain Global LLC acquired a new stake in shares of Blackstone in the third quarter worth $9,116,000. Fayez Sarofim & Co boosted its position in shares of Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after buying an additional 24,237 shares during the period. Natixis Advisors LLC boosted its position in shares of Blackstone by 20.4% in the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after buying an additional 142,479 shares during the period. Close Asset Management Ltd boosted its position in shares of Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after buying an additional 1,133,197 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Blackstone by 2.1% in the third quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock worth $154,489,000 after buying an additional 18,339 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 355 shares of Blackstone stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the purchase, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. The trade was a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 12,355,303 shares of company stock valued at $264,789,896 in the last three months. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $118.62 on Friday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The business has a 50-day moving average of $119.08 and a two-hundred day moving average of $131.84. The stock has a market capitalization of $88.12 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.20 and a beta of 1.59. 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 announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, equities research analysts predict that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone’s payout ratio is presently 118.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BX. Morgan Stanley decreased their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. HSBC reduced their price objective on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Evercore reissued an “outperform” rating and set a $150.00 price objective on shares of Blackstone in a research report on Tuesday, April 21st. Jefferies Financial Group lifted their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $151.05.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone announced an investment partnership with Nippon Life Insurance focused on private credit and real estate capital deployment, adding a new source of assets under management and potential fee growth. Blackstone, Nippon Life Insurance partner on private credit, real estate
• Positive Sentiment: Blackstone-backed Liftoff Mobile completed an IPO, reinforcing Blackstone’s ability to monetize portfolio investments and create value through exits. Blackstone’s Liftoff IPO And Nippon Life Deal Reshape BX Outlook
• Neutral Sentiment: TransAlta agreed to buy Blackstone-backed Colorado peaking plants for about $1 billion, which shows continued asset sale activity and potential capital recycling, but the stock impact is unclear from the announcement alone. TransAlta to buy Blackstone-backed Colorado peaking plants for $1 billion
• Negative Sentiment: Blackstone’s private credit fund withdrawal cap is fueling renewed investor anxiety about liquidity in private markets and could pressure sentiment if redemption stress spreads to peers. Investors Seek to Pull 10% from Blackstone’s Giant Private-Credit Fund
• Negative Sentiment: Peer fund redemption limits from Partners Group and Cliffwater triggered a broader selloff in alternative asset managers, weighing on BX despite today’s rebound. KKR, Ares, Blackstone tumble premarket as Partners Group caps private equity fund withdrawals

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.