Levin Capital Strategies L.P. Purchases 44,829 Shares of Blackstone Inc. $BX

Key Points

• Levin Capital Strategies sharply boosted its Blackstone stake in Q1, buying 44,829 additional shares and increasing its position by 3,029% to 46,309 shares valued at about $5.3 million.
• Institutional ownership remains high, with hedge funds and other investors holding about 70% of Blackstone’s stock, while some other funds also added small new positions.
• Analyst sentiment is mixed but still constructive: the stock has a Moderate Buy consensus with an average price target of $145.71, though some firms recently trimmed targets or moved to a hold rating.

Levin Capital Strategies L.P. raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 3,029.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,309 shares of the asset manager's stock after buying an additional 44,829 shares during the quarter. Levin Capital Strategies L.P.'s holdings in Blackstone were worth $5,325,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new stake in Blackstone during the fourth quarter valued at about $28,000. Ares Financial Consulting LLC bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new stake in shares of Blackstone during the 4th quarter valued at approximately $29,000. Strive Asset Management LLC bought a new position in Blackstone in the 3rd quarter worth approximately $30,000. Finally, Palladiem LLC bought a new stake in Blackstone during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BX. Sanford C. Bernstein started coverage on Blackstone in a report on Monday, June 8th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. dropped their price objective on Blackstone from $136.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, July 16th. Keefe, Bruyette & Woods upgraded Blackstone to a "hold" rating in a research note on Monday. Evercore reiterated an "outperform" rating and set a $150.00 price target on shares of Blackstone in a research report on Tuesday, April 21st. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.71.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone, Wellington Management, and Vanguard launched two new investment solutions that simplify access to public and private markets, potentially broadening distribution and supporting future fee growth. Article Title
• Positive Sentiment: Blackstone also expanded its strategic push into India infrastructure and AI services, highlighting new growth avenues beyond its core asset-management business. Article Title
• Neutral Sentiment: Investors are waiting for Blackstone’s earnings release, which is expected to provide fresh guidance on fundraising, realizations, and performance across private equity, credit, and real estate. Article Title
• Neutral Sentiment: Keefe, Bruyette & Woods upgraded Blackstone to hold, suggesting a more balanced near-term view rather than a strongly bullish catalyst. Article Title
• Negative Sentiment: Some coverage suggests Blackstone’s private-market products are launching after an exodus from similar private credit funds earlier this year, which may keep investor sentiment cautious around new offerings. Article Title

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 price of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

BX stock opened at $122.85 on Thursday. The firm has a 50 day simple moving average of $120.06 and a two-hundred day simple moving average of $125.05. The stock has a market cap of $91.26 billion, a PE ratio of 31.42, a P/E/G ratio of 1.35 and a beta of 1.58. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data 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. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same quarter last year, the company posted $1.11 EPS. The business's quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

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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