NewEdge Wealth LLC Decreases Stock Position in Blackstone Inc. $BX

Key Points

• NewEdge Wealth LLC cut its Blackstone stake by 24.8% in the first quarter, selling 177,475 shares and leaving it with 537,227 shares valued at about $61.8 million.
• Other institutional investors remain heavily involved in Blackstone, with 70% of the stock owned by institutions and hedge funds; large holders like Vanguard, Norges Bank, and Capital Research Global Investors all maintained or increased sizable positions.
• Blackstone’s latest quarterly results beat EPS estimates, and analysts remain generally constructive overall, with a Moderate Buy consensus and an average price target of $145.71 despite some recent target cuts.

NewEdge Wealth LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 24.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,227 shares of the asset manager's stock after selling 177,475 shares during the quarter. NewEdge Wealth LLC owned approximately 0.07% of Blackstone worth $61,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Blackstone in the 4th quarter valued at approximately $1,275,747,000. Capital Research Global Investors increased its position in Blackstone by 99.2% during the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager's stock worth $983,690,000 after buying an additional 3,178,133 shares in the last quarter. Amundi lifted its position in shares of Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager's stock valued at $417,620,000 after acquiring an additional 1,249,269 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Blackstone by 476.1% during the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager's stock valued at $204,193,000 after acquiring an additional 1,094,307 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager's stock valued at $11,046,859,000 after purchasing an additional 840,258 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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

Blackstone Stock Performance

NYSE:BX opened at $122.85 on Thursday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The firm's 50 day moving average is $120.06 and its two-hundred day moving average is $125.05. The company has a market cap of $91.26 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.35 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm posted $1.11 EPS. The business's revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Blackstone Inc. will post 5.85 EPS for the current year.

Insider Buying and Selling

In other news, insider Vikrant Sawhney sold 30,014 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ruth Porat bought 355 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the acquisition, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 10,252,345 shares of company stock worth $209,789,893. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BX. TD Cowen decreased their price target on shares of Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Zacks Research raised shares of Blackstone from a "strong sell" rating to a "hold" rating in a research note on Monday, June 8th. Citizens Jmp lowered their target price on shares of Blackstone from $190.00 to $165.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered Blackstone from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Finally, HSBC reaffirmed a "hold" rating and issued a $135.00 price objective on shares of Blackstone in a research report on Monday. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $145.71.

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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