Bowen Hanes & Co. Inc. Acquires 41,931 Shares of Blackstone Inc. $BX

Key Points

• Bowen Hanes & Co. Inc. increased its Blackstone stake by 9.7% in Q1, adding 41,931 shares to bring its total holding to 473,338 shares worth about $54.4 million.
• Blackstone reported strong quarterly results, with EPS of $1.52 beating estimates and revenue of $5.04 billion topping forecasts, while revenue rose 35.9% year over year.
• The company raised its dividend to $1.29 per share quarterly, implying an annualized payout of $5.16 and a 4.1% yield, even as insiders and institutional investors remain active in the stock.

Bowen Hanes & Co. Inc. lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 473,338 shares of the asset manager's stock after purchasing an additional 41,931 shares during the period. Bowen Hanes & Co. Inc. owned about 0.06% of Blackstone worth $54,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. Norges Bank purchased a new position in Blackstone in the fourth quarter valued at approximately $1,275,747,000. Capital Research Global Investors grew its stake in shares of Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager's stock worth $983,690,000 after acquiring an additional 3,178,133 shares during the period. Amundi raised its stake in Blackstone by 85.6% in the 4th quarter. Amundi now owns 2,709,345 shares of the asset manager's stock valued at $417,620,000 after acquiring an additional 1,249,269 shares during the period. Focus Partners Wealth boosted its position in Blackstone by 476.1% during the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager's stock worth $204,193,000 after purchasing an additional 1,094,307 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Blackstone by 1.2% in 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 owned by institutional investors.

Blackstone Price Performance

NYSE:BX opened at $124.67 on Friday. The firm has a market capitalization of $92.61 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 1.33 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a fifty day moving average of $120.10 and a 200 day moving average of $124.81. 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 data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $3.42 billion. During the same period in the prior year, the business earned $0.98 earnings per share. Blackstone's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, research analysts expect that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Blackstone's previous quarterly dividend of $1.16. Blackstone's payout ratio is presently 118.67%.

Insiders Place Their Bets

In other news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of Blackstone stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company's stock, valued at $73,233.72. The trade was a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 10,252,345 shares of company stock valued at $209,789,893 over the last quarter. Insiders own 1.00% of the company's stock.

Key Blackstone News

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Blackstone from $126.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Evercore reiterated an "outperform" rating and set a $150.00 price objective on shares of Blackstone in a research note on Tuesday, April 21st. Oppenheimer cut their target price on Blackstone from $156.00 to $139.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Rothschild & Co Redburn decreased their price target on Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 9th. Finally, Piper Sandler raised their price objective on shares of Blackstone from $122.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $145.71.

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.

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