Granite Bay Wealth Management LLC Boosts Holdings in Blackstone Inc. $BX

Key Points

• Granite Bay Wealth Management increased its Blackstone position by 33.5% in the first quarter, buying 11,447 additional shares and bringing its total to 45,645 shares worth about $5.26 million.
• Several other institutional investors also nudged up their BX holdings, and institutions now own about 70% of Blackstone’s stock, underscoring strong professional investor interest.
• Analysts remain mixed but generally constructive: the stock has a Moderate Buy consensus with a $147.10 average price target, while recent reports highlighted active dealmaking, insider buying, and Blackstone’s latest quarterly earnings and dividend payout.

Granite Bay Wealth Management LLC boosted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 33.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 45,645 shares of the asset manager's stock after purchasing an additional 11,447 shares during the quarter. Blackstone comprises about 1.1% of Granite Bay Wealth Management LLC's holdings, making the stock its 28th biggest holding. Granite Bay Wealth Management LLC's holdings in Blackstone were worth $5,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. Redwood Financial Network Corp raised its holdings in Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock worth $537,000 after acquiring an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock worth $1,194,000 after purchasing an additional 69 shares in the last quarter. Parcion Private Wealth LLC lifted its holdings in shares of Blackstone by 0.6% during the fourth quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager's stock valued at $1,686,000 after purchasing an additional 70 shares in the last quarter. Trivium Point Advisory LLC increased its holdings in Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager's stock worth $418,000 after buying an additional 70 shares in the last quarter. Finally, Zacks Investment Management raised its position in Blackstone by 2.1% in the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager's stock worth $590,000 after buying an additional 71 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Citizens JMP lifted its price target on Blackstone to $165 from $190 and kept an “outperform” view, signaling confidence that the shares still have meaningful upside from current levels. Blackstone NYSE: BX Given New $165.00 Price Target at Citizens Jmp
• Positive Sentiment: Blackstone and TPG are reportedly seeking more than $4 billion for Hologic’s surgical unit, underscoring continued private-equity dealmaking activity and potential value creation from large asset sales or acquisitions. Blackstone, TPG seek over $4 billion for Hologic's surgical unit, FT says
• Positive Sentiment: Reports that Barclays is preparing roughly $875 million of debt financing tied to a Blackstone takeover highlight active transaction flow that can support fees and investment returns for the firm. Market Chatter: Barclays Readies $875 Million Debt Sale for Blackstone's Senior Takeover
• Neutral Sentiment: Barclays cut Blackstone’s price target to $119 from $124 and kept an “equal weight” rating, reflecting a more cautious near-term view even as the target remains close to the current share price. Blackstone NYSE: BX Price Target Lowered to $119.00 at Barclays
• Neutral Sentiment: A separate report said Apollo and Blackstone helped turn Broadcom’s and Anthropic’s AI chip financing into debt for other investors, which is notable but not directly a clear positive or negative catalyst for BX shares. Apollo and Blackstone just turned Broadcom, Anthropic's AI chip bet into somebody else's debt

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BX. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a "buy" rating for the company. Barclays dropped their target price on shares of Blackstone from $124.00 to $119.00 and set an "equal weight" rating on the stock in a report on Thursday. HSBC lowered their price target on Blackstone from $164.00 to $131.00 and set a "hold" rating on the stock in a report on Friday, April 10th. Rothschild & Co Redburn cut their price objective on Blackstone from $134.00 to $130.00 and set a "neutral" rating for the company in a report on Tuesday, June 9th. Finally, TD Cowen lowered their target price on Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.10.

Insider Activity at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider directly owned 7,882,145 shares of the company's stock, valued at $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ruth Porat acquired 355 shares of Blackstone stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares of the company's stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 10,252,345 shares of company stock worth $209,789,893 in the last 90 days. Insiders own 1.00% of the company's stock.

Blackstone Trading Up 0.7%

Shares of Blackstone stock opened at $122.97 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $91.35 billion, a PE ratio of 31.45, a P/E/G ratio of 1.33 and a beta of 1.58. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company's fifty day simple moving average is $119.72 and its 200-day simple moving average is $126.95.

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

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone's dividend payout ratio is currently 118.67%.

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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