Fideuram Asset Management Ireland dac Purchases Shares of 10,066 Blackstone Inc. $BX

Key Points

• Fideuram Asset Management Ireland dac disclosed a new fourth-quarter stake in Blackstone, buying 10,066 shares valued at about $1.62 million.
• Blackstone’s latest quarterly earnings beat expectations, posting $1.36 EPS versus the $1.34 estimate, while revenue rose 10% year over year to $3.43 billion.
• The firm also paid a quarterly dividend of $1.16 per share and now offers an annualized yield of about 4.0%, though the payout ratio remains elevated at 118.67%.

Fideuram Asset Management Ireland dac purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,066 shares of the asset manager's stock, valued at approximately $1,620,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Blackstone by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager's stock valued at $12,100,868,000 after acquiring an additional 1,335,060 shares in the last quarter. Close Asset Management Ltd grew its holdings in shares of Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager's stock valued at $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager's stock valued at $162,861,000 after acquiring an additional 583,384 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Blackstone by 11.3% in the 3rd quarter. Invesco Ltd. now owns 4,107,665 shares of the asset manager's stock valued at $701,795,000 after acquiring an additional 416,933 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Blackstone by 1.3% in the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager's stock valued at $5,358,334,000 after acquiring an additional 412,281 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Up 0.8%

Shares of BX stock opened at $117.05 on Friday. The firm has a 50 day moving average price of $118.68 and a two-hundred day moving average price of $132.69. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $86.95 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.26 and a beta of 1.63. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business posted $1.11 earnings per share. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, May 4th. Blackstone's payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I. L.P. Blackstone sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the transaction, the insider directly owned 125,000 shares in the company, valued at $2,375,000. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 12,355,303 shares of company stock valued at $264,789,896 and sold 7,532,518 shares valued at $30,496,500. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research cut Blackstone from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 29th. UBS Group reduced their price target on Blackstone from $171.00 to $137.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Royal Bank Of Canada set a $173.00 price target on Blackstone in a report on Friday, April 24th. JPMorgan Chase & Co. reduced their price target on Blackstone from $142.00 to $136.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Finally, HSBC reduced their price target on Blackstone from $164.00 to $131.00 and set a "hold" rating for the company in a report on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average price target of $151.05.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its AI infrastructure exposure through a new $5 billion joint venture with Google to build U.S.-based data center capacity and provide TPU compute services, giving investors a new growth angle tied to AI demand. Blackstone (BX) to Invest $5B in TPU Cloud Joint Venture with Google
• Positive Sentiment: Blackstone was also mentioned in reports that it and Apollo are arranging about $36 billion in financing tied to Anthropic’s AI chip expansion, reinforcing the firm’s role in large-scale AI-related capital deployment. Apollo, Blackstone work on $36 billion debt deal for Anthropic, Bloomberg News reports
• Positive Sentiment: DBS Bank upgraded Blackstone to “moderate buy,” which can bolster investor sentiment around the stock. Blackstone was upgraded by Dbs Bank to moderate buy
• Neutral Sentiment: Blackstone announced that President and COO Jon Gray will present at Morgan Stanley’s U.S. Financials Conference on June 9, which is mainly a visibility event rather than a direct business catalyst. Blackstone to Present at Morgan Stanley's US Financials Conference
• Negative Sentiment: Reports that Blackstone plans to sell a Seattle office building at roughly a 54% loss highlight ongoing stress in office real estate, a potential headwind for investor sentiment toward parts of Blackstone’s portfolio. Blackstone to sell Seattle office building for ~54% below purchase price - report
• Negative Sentiment: Another article said Blackstone is facing valuation questions in the broader market, which can add to uncertainty around the stock’s pricing. Blackstone Swings Put S&P 500 Valuation In Focus

About Blackstone

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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