Cetera Investment Advisers Buys 64,966 Shares of Blackstone Inc. $BX

Key Points

• Cetera Investment Advisers boosted its Blackstone stake by 17.9% in the first quarter, buying 64,966 shares and bringing its total to 427,819 shares worth about $49.2 million.
• Blackstone reported strong Q2 results, with EPS of $1.52 and revenue of $5.04 billion, both well above analyst estimates. Revenue also rose 35.9% from a year earlier.
• The company highlighted record assets under management of $1.35 trillion, supported by nearly $70 billion in quarterly inflows, while also raising its quarterly dividend to $1.29 per share.

Cetera Investment Advisers increased its position in Blackstone Inc. (NYSE:BX - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,819 shares of the asset manager's stock after buying an additional 64,966 shares during the quarter. Cetera Investment Advisers owned 0.06% of Blackstone worth $49,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new position in Blackstone during the fourth quarter valued at $28,000. Ares Financial Consulting LLC bought a new position in Blackstone in the 4th quarter worth about $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone during the 4th quarter valued at about $29,000. Strive Asset Management LLC purchased a new position in Blackstone in the third quarter worth about $30,000. Finally, Palladiem LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $31,000. Institutional investors own 70.00% of the company's stock.

Insider Activity

In related news, Director Ruth Porat acquired 355 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business's 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 completion of the transaction, the insider owned 19,374 shares of the company's stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone's quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

Blackstone Stock Up 4.2%

Shares of BX opened at $129.72 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a market cap of $96.36 billion, a PE ratio of 29.02, a P/E/G ratio of 1.35 and a beta of 1.58. The business has a fifty day moving average of $120.33 and a 200 day moving average of $124.84.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. On average, sell-side analysts expect that Blackstone Inc. will post 5.85 EPS for the current year.

Blackstone Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on BX shares. HSBC reaffirmed a "hold" rating and set a $135.00 price target on shares of Blackstone in a research report on Monday. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a report on Wednesday, May 27th. BNP Paribas Exane cut their price objective on shares of Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Zacks Research raised Blackstone from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, Keefe, Bruyette & Woods raised Blackstone to a "hold" rating in a report on Monday, July 20th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $147.76.

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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