Matrix Private Capital Group LLC Acquires New Position in Blackstone Inc. $BX

Key Points

• Matrix Private Capital Group opened a new position in Blackstone during the first quarter, buying 11,651 shares worth about $1.34 million.
• Blackstone reported a strong quarter, with EPS of $1.52 versus $1.34 expected and revenue of $5.04 billion versus $3.42 billion expected. Assets under management also reached a record $1.35 trillion, supported by nearly $70 billion in quarterly inflows.
• The company raised its quarterly dividend to $1.29 per share and has drawn mixed but generally positive analyst sentiment, with a consensus rating of Moderate Buy and a target price of $147.76.

Matrix Private Capital Group LLC bought a new position in Blackstone Inc. (NYSE:BX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,651 shares of the asset manager's stock, valued at approximately $1,340,000.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Strive Asset Management LLC purchased a new stake in Blackstone in the 3rd quarter valued at $30,000. Family CFO Inc purchased a new position in shares of Blackstone during the 4th quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone during the fourth quarter worth about $29,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Blackstone in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of Blackstone stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider directly owned 7,882,145 shares of the company's stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated 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 transaction, the insider directly owned 19,374 shares of the company's stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by company 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

Analysts Set New Price Targets

Several analysts have recently commented on BX shares. Sanford C. Bernstein assumed coverage on shares of Blackstone in a research report on Monday, June 8th. They set an "outperform" rating on the stock. Barclays raised their target price on Blackstone from $119.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Friday. Dbs Bank raised Blackstone to a "moderate buy" rating in a research note on Wednesday, May 27th. Zacks Research upgraded shares of Blackstone from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research note on Monday, June 8th. They set a "buy" rating for the company. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.76.

Blackstone Trading Up 4.2%

Shares of NYSE BX opened at $129.72 on Friday. The stock has a fifty day simple moving average of $120.33 and a 200-day simple moving average of $124.84. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $96.36 billion, a PE ratio of 29.02, a PEG ratio of 1.41 and a beta of 1.58.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone's revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. On average, equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 4.0%. This is a positive change from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date is Monday, August 3rd. Blackstone's payout ratio is presently 103.80%.

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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