Blackstone (NYSE:BX) Major Shareholder Purchases $189,735,900.00 in Stock

Key Points

• Blackstone major shareholder Treasury Holdings bought 9,486,795 shares at $20.00 each, a transaction worth about $189.7 million. The filing showed the insider’s ownership rose sharply after the purchase.
• Blackstone recently reported earnings above expectations, posting $1.36 EPS versus the $1.34 estimate and 10% year-over-year revenue growth. Analysts now expect the company to generate 5.89 EPS for the current fiscal year.
• The company also paid a quarterly dividend of $1.16 per share, equal to a 4.1% annualized yield. However, the payout ratio is elevated at 118.67%, and the stock has recently traded below both its 50-day and 200-day moving averages.

Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Treasury Holdings Blackstone acquired 9,486,795 shares of the company's stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares of the company's stock, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Blackstone Stock Performance

NYSE BX traded down $2.73 on Tuesday, reaching $114.31. 4,795,055 shares of the company's stock traded hands, compared to its average volume of 7,493,917. The firm has a market cap of $84.92 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 1.29 and a beta of 1.63. The stock has a 50 day moving average price of $117.13 and a 200-day moving average price of $134.38. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. Equities research analysts predict that Blackstone Inc. will post 5.89 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. Blackstone's payout ratio is currently 118.67%.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and Google announced a joint venture to build a new TPU cloud platform, giving BX exposure to the fast-growing AI infrastructure market and potentially creating a new long-term revenue stream. Blackstone Announces Joint Venture with Google to Create New TPU Cloud
• Positive Sentiment: Reports said the Google partnership could involve about $5 billion of equity capital from Blackstone, underscoring the scale of the deal and its strategic importance. Google and Blackstone Bet $5 Billion on New Newcloud to Challenge CoreWeave
• Neutral Sentiment: Blackstone reportedly abandoned its pursuit of the €2.5 billion Stroeer deal, which removes a potential transaction from the pipeline but does not appear to be the main stock driver today. Blackstone gives up pursuit of €2.5 billion Stroeer deal
• Neutral Sentiment: TD Cowen lowered its price target on BX to $133 from $140 while keeping a buy rating, which suggests some caution but still points to upside from current levels. TD Cowen adjusts price target on Blackstone
• Negative Sentiment: Broader market pressure on tech stocks and higher Treasury yields may be weighing on investor sentiment, which could limit near-term gains in BX despite the positive AI news. 5 Things to Know Before the Stock Market Opens

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BX. Citizens Jmp dropped their price objective on shares of Blackstone from $195.00 to $190.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 22nd. Barclays dropped their price objective on shares of Blackstone from $126.00 to $124.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Weiss Ratings cut shares of Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Blackstone from $156.00 to $146.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Finally, HSBC dropped their price target on shares of Blackstone from $164.00 to $131.00 and set a "hold" rating for the company in a research note on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $151.05.

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently modified their holdings of BX. Brighton Jones LLC raised its holdings in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager's stock valued at $310,000 after purchasing an additional 177 shares in the last quarter. United Bank boosted its holdings in 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 buying an additional 1,729 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Blackstone in the second quarter valued at about $1,124,000. Finally, Sei Investments Co. lifted its holdings in shares of Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager's stock valued at $67,703,000 after purchasing an additional 8,655 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

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.

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