Bowen Hanes & Co. Inc. Grows Stock Position in Blackstone Inc. $BX

Bowen Hanes & Co. Inc. boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 9.7% in the 1st quarter, HoldingsChannel reports. The fund owned 473,338 shares of the asset manager’s stock after buying an additional 41,931 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Blackstone were worth $54,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Brighton Jones LLC boosted its position in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares during the period. Sivia Capital Partners LLC raised its stake 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 acquiring an additional 177 shares during the last quarter. United Bank grew its stake in shares of Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares during the last quarter. Nebula Research & Development LLC bought a new position in Blackstone during the 2nd quarter valued at approximately $1,124,000. Finally, Sei Investments Co. lifted its holdings 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 buying an additional 8,655 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price 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 reduced their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Barclays decreased their price target on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Finally, HSBC reaffirmed a “hold” rating and set a $135.00 price objective on shares of Blackstone in a research report on Monday. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and an average price target of $145.71.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone reported Q2 EPS of $1.52, topping expectations, and revenue of $5.04 billion, also above forecasts, signaling stronger-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management reached a record $1.35 trillion, helped by strong inflows, which supports fee growth and reinforces Blackstone’s scale advantage. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted gains from AI-related investments, suggesting the firm’s early infrastructure bets are paying off and could be an important long-term growth driver. Blackstone’s Profit Surges on AI Investments
• Neutral Sentiment: Blackstone also launched new public-private market investment solutions with Wellington and Vanguard, which could broaden its reach with wealthy investors, but the near-term earnings impact is still uncertain. Wellington, Vanguard, and Blackstone Announce the Launch of Two Investment Solutions
• Neutral Sentiment: Some headlines noted pressure in private credit fundraising and broader market concerns around rates, oil, and geopolitical risk, but these were outweighed by the company’s strong quarterly results. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains

Insider Activity

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat bought 355 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Up 1.5%

Shares of NYSE BX opened at $124.67 on Friday. The stock has a market cap of $92.61 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. 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 firm has a 50-day moving average of $120.10 and a 200 day moving average of $124.81.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

Blackstone Increases Dividend

The business 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 is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, August 3rd. Blackstone’s payout ratio is currently 118.67%.

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.