Blackstone Inc. $BX Stock Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its stake in Blackstone Inc. (NYSE:BX) by 23.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,686 shares of the asset manager’s stock after acquiring an additional 5,592 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Blackstone were worth $3,328,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BX. BlackRock Inc. purchased a new position in Blackstone during the second quarter valued at $6,112,162,000. Bank of America Corp DE acquired a new stake in shares of Blackstone in the second quarter valued at about $1,364,373,000. Legal & General Group Plc purchased a new stake in shares of Blackstone during the second quarter worth about $605,267,000. Bank of New York Mellon Corp increased its stake in shares of Blackstone by 8.0% during the first quarter. Bank of New York Mellon Corp now owns 4,520,908 shares of the asset manager’s stock worth $519,859,000 after purchasing an additional 333,798 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Blackstone by 1.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager’s stock worth $512,250,000 after purchasing an additional 52,755 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Blackstone news, CAO David Payne sold 9,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the sale, the chief accounting officer owned 64,448 shares in the company, valued at approximately $9,359,783.04. This represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the completion of the transaction, the director directly owned 771,599 shares in the company, valued at $95,523,956.20. This trade represents a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 464,792 shares of company stock worth $12,205,945 and have sold 4,077,276 shares worth $37,573,644. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of a number of research reports. Citizens Jmp decreased their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Citigroup upgraded Blackstone from a “market outperform” rating to a “buy” rating in a research note on Monday, October 12th. BMO Capital Markets reissued an “outperform” rating and set a $130.00 target price on shares of Blackstone in a report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Blackstone in a research report on Friday, October 16th. Finally, JPMorgan Chase & Co. lowered their price target on Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.35.

Blackstone Price Performance

Shares of NYSE BX opened at $109.66 on Thursday. The firm has a 50-day simple moving average of $126.05 and a 200-day simple moving average of $124.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $82.31 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.59. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $165.14.

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

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone closed its Energy Transition Partners V fund with $8.7 billion, providing new fee-generating capital for energy-transition investments. The firm is also reportedly discussing a $400 million–$500 million investment in India’s Accord Software Systems. Blackstone Lands $8.7 Billion Energy Fund Close
• Positive Sentiment: Blackstone and Warburg Pincus are reportedly exploring a sale of IntraFi valued above $10 billion. A transaction could crystallize value from the portfolio and generate proceeds or investment gains, although discussions are preliminary. Blackstone and Warburg Explore IntraFi Sale
• Positive Sentiment: The NFL is considering approving Blackstone as an eligible investor for minority stakes in teams. Access to this scarce, high-value asset class could create a new growth opportunity, though talks remain early and require league approval. NFL Weighs Letting Blackstone Buy Minority Team Stakes
• Positive Sentiment: Blackstone executive Jas Khaira argued that concerns about debt financing for AI infrastructure are overstated, underscoring the firm’s intention to participate in the AI buildout and potentially expand infrastructure-related investment activity. Blackstone Executive Discusses AI Buildout Debt
• Neutral Sentiment: Investors are awaiting quarterly earnings, with the preview focused on fee growth, the wealth-management channel and signs of recovery in real estate. Expectations have reportedly been reduced, potentially lowering the bar for a positive earnings surprise. Blackstone Q3 Earnings Preview
• Positive Sentiment: Stripe is reportedly nearing a deal to lease London office space owned by Blackstone, supporting occupancy and rental income in the firm’s real-estate portfolio.
• Negative Sentiment: A $1.3 billion Blackstone multifamily CMBS loan has entered special servicing, highlighting continued stress in parts of commercial real estate and potential pressure on valuations or returns. Blackstone Multifamily CMBS Loan Enters Special Servicing

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.