Blackstone Inc. $BX Stock: Curated Wealth Partners LLC Lowers Position

Key Points

• Curated Wealth Partners cut its Blackstone position by 88.4% in the third quarter, selling 121,332 shares and retaining 15,938 shares valued at approximately $1.8 million. Institutional investors collectively own about 70% of BX.
• Blackstone recently reported stronger-than-expected results, with quarterly EPS of $1.52 versus the $1.34 consensus and revenue up 35.9% year over year. The company also increased its quarterly dividend to $1.29 per share, representing a 4.7% yield.
• Analyst sentiment remains moderately positive, with a consensus target price of $144.65, although several firms recently lowered their targets. Insider selling and concerns about slower asset realizations and performance fees remain potential risks.

Curated Wealth Partners LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 88.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,938 shares of the asset manager's stock after selling 121,332 shares during the quarter. Curated Wealth Partners LLC's holdings in Blackstone were worth $1,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BX. Wellington Altus USA Inc. acquired a new stake in Blackstone in the 2nd quarter valued at about $26,000. Addison Advisors LLC acquired a new position in Blackstone in the 2nd quarter valued at about $30,000. NBH Bank purchased a new stake in Blackstone during the 2nd quarter worth about $30,000. Bell Investment Advisors Inc purchased a new stake in shares of Blackstone during the 2nd quarter worth $30,000. Finally, West Branch Capital LLC boosted its holdings in Blackstone by 26,600.0% in the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager's stock valued at $31,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Up 2.4%

Shares of NYSE BX traded up $2.59 on Thursday, hitting $108.80. The company had a trading volume of 3,139,627 shares, compared to its average volume of 6,048,609. The firm has a market capitalization of $81.67 billion, a P/E ratio of 24.36, a PEG ratio of 1.32 and a beta of 1.59. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $165.32. The business has a 50 day moving average of $129.30 and a two-hundred day moving average of $124.25. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 5.94 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 4.7%. This is an increase from Blackstone's previous quarterly dividend of $1.16. Blackstone's dividend payout ratio is currently 115.44%.

Insider Transactions at Blackstone

In other news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the company's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $16.40, for a total transaction of $2,043,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 100,000 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the sale, the director directly owned 771,599 shares of the company's stock, valued at $95,523,956.20. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have purchased 1,038,406 shares of company stock valued at $27,205,951 and have sold 4,077,276 shares valued at $37,573,644. Insiders own 1.00% of the company's stock.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone funds are reportedly selling portfolio company ZO Skin Health to Galderma for approximately $1.5 billion in cash. The transaction highlights potential value creation and provides a realization that could support capital recycling and future distributions. Blackstone to Sell ZO Skin Health to Galderma for $1.5 Billion
• Positive Sentiment: Some valuation analysis suggests BX could be materially undervalued following the ZO Skin Health sale, with one estimate indicating as much as 39% upside if realizations improve and the company’s earnings power is properly reflected in the share price. Blackstone Could Be 39% Undervalued
• Neutral Sentiment: Blackstone is scheduled to report earnings, giving investors a near-term catalyst to assess fundraising, fee-related earnings, realizations, and management’s outlook for private-market activity. Blackstone Set to Release Earnings
• Neutral Sentiment: UBS maintained a Hold/Neutral rating while reducing its price target from $122 to $116, implying limited-to-moderate upside from recent levels. Blackstone Price Target Cut by UBS
• Negative Sentiment: Analysts have edged down their fair-value estimates as softer asset realizations raise questions about the timing and strength of performance fees. Blackstone Fair Value Edges Lower
• Negative Sentiment: The reported delay of Blackstone-backed AirTrunk’s approximately $1.5 billion IPO reflects difficult market conditions and postpones a potential liquidity event. Separately, possible Firmus Technologies share-repurchase obligations could create financial exposure, although the terms and ultimate impact remain unclear. Blackstone Faces Firmus Buyback Risk

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BX shares. UBS Group lowered their target price on shares of Blackstone from $122.00 to $116.00 and set a "neutral" rating on the stock in a research report on Tuesday. TD Cowen dropped their price objective on Blackstone from $154.00 to $144.00 and set a "buy" rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Blackstone from $136.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, July 16th. HSBC reaffirmed a "hold" rating and set a $135.00 price objective on shares of Blackstone in a research note on Monday, July 20th. Finally, Weiss Ratings raised shares of Blackstone from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Blackstone currently has an average rating of "Moderate Buy" and a consensus target price of $144.65.

Blackstone Company Profile

Blackstone Inc is a global alternative asset management firm that provides investment solutions to institutional investors, companies, financial advisers and individual investors. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, the company has developed a broad platform spanning private markets and other alternative investments.

Blackstone's businesses include private equity, real estate, credit and insurance, infrastructure, secondaries and hedge fund solutions. Its investment activities may involve acquiring and managing companies, commercial and residential properties, infrastructure assets, private credit and other investments on behalf of its clients.

The firm serves clients and invests across North America, Europe, Asia-Pacific and other international markets.

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