Amundi Has $281.17 Million Stake in Blackstone Inc. $BX

Key Points

• Amundi reduced its Blackstone stake by 9.8% in the first quarter, selling 264,214 shares and retaining 2.45 million shares valued at approximately $281.2 million. Institutional investors collectively own about 70% of Blackstone.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $147.95, compared with Blackstone’s recent price of $128.26.
• Blackstone reported stronger-than-expected quarterly results, including $1.52 in earnings per share and $5.04 billion in revenue, up 35.9% year over year. The company also raised its quarterly dividend to $1.29 per share, equivalent to a 4.0% annualized yield.

Amundi cut its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,445,131 shares of the asset manager's stock after selling 264,214 shares during the quarter. Amundi owned about 0.33% of Blackstone worth $281,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Vanguard Personalized Indexing Management LLC increased its holdings in Blackstone by 9.0% in the fourth 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 in the last quarter. Greenup Street Wealth Management LLC boosted its stake in shares of Blackstone by 1,034.3% during the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Blackstone by 8.5% in the 4th 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 in the last quarter. Benson Investment Management Company Inc. acquired a new position in Blackstone in the 4th quarter worth about $5,856,000. Finally, Vanguard Group Inc. boosted its position in Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager's stock worth $11,046,859,000 after purchasing an additional 840,258 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Jefferies Financial Group upped their target price on Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Blackstone from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 24th. HSBC reissued a "hold" rating and set a $135.00 target price on shares of Blackstone in a research note on Monday, July 20th. Finally, Rothschild & Co Redburn decreased their price target on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 9th. 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.com, Blackstone has a consensus rating of "Moderate Buy" and a consensus target price of $147.95.

Blackstone Price Performance

Shares of NYSE BX opened at $128.26 on Friday. The firm has a 50-day simple moving average of $121.47 and a 200-day simple moving average of $123.84. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $95.28 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BX - Get Free Report) 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 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a dividend of $1.29 per share. The ex-dividend date is Monday, August 3rd. This is a positive change from Blackstone's previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. Blackstone's dividend payout ratio (DPR) is 103.80%.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is acquiring DarkVision Technologies from Koch Engineered Solutions through funds managed by Blackstone Energy Transition Partners. DarkVision’s AI-powered ultrasound imaging is used to inspect critical industrial infrastructure, expanding Blackstone’s exposure to infrastructure technology, energy transition and industrial reliability. Blackstone Energy Transition Partners Announces Agreement to Acquire DarkVision from Koch Engineered Solutions
• Positive Sentiment: HSBC agreed to sell Blackstone its A$36 billion Australian home and personal loan portfolio, worth approximately US$25.3 billion. The transaction supports Blackstone’s expansion in Australian private credit and marks HSBC’s exit from retail banking in the country, although financial terms and closing details were not disclosed. HSBC to sell $25.3 billion Australian home loan portfolio to Blackstone
• Positive Sentiment: Blackstone’s latest quarterly results showed strong operating momentum: earnings per share reached $1.52 versus a $1.34 consensus estimate, revenue rose 36% year over year to $5.04 billion, and assets under management increased 11% to $1.35 trillion. The company also raised its quarterly dividend to $1.29 from $1.16. Blackstone’s Profit Jumped 26% on AI Bets but the Stock Barely Moved
• Neutral Sentiment: A major Blackstone shareholder purchased 573,614 shares, increasing its position by 7.28%. The purchase may signal insider confidence, but it is unlikely to materially alter the company’s fundamentals. Blackstone Major Shareholder Acquires Shares
• Negative Sentiment: Despite strong earnings and AI-related investment activity, analysts and valuation checks suggest BX may already be fully priced or trading at a premium. That concern appears to be muting the market’s response to the company’s otherwise favorable results. Blackstone Stock May Be Fully Priced as Q2 AI Profit Jumps

Insider Buying and Selling

In other news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price 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 $182,236,000. This trade represents a -2,529.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased 10,825,959 shares of company stock valued at $224,789,900 in the last quarter. Corporate insiders own 1.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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