Next Capital Management LLC Purchases 17,762 Shares of Blackstone Inc. $BX

Key Points

• Next Capital Management LLC increased its Blackstone stake by 389.5% in the first quarter, buying 17,762 additional shares and bringing its total holdings to 22,322 shares valued at about $2.57 million.
• Blackstone reported better-than-expected quarterly earnings of $1.36 per share, while revenue came in slightly below estimates at $3.43 billion. Revenue still rose 10% year over year, and analysts now expect full-year EPS of 5.89.
• Shares of Blackstone were down 1.6% to $126.96, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $145.52, despite some recent target cuts.

Next Capital Management LLC grew its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 389.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,322 shares of the asset manager's stock after buying an additional 17,762 shares during the quarter. Next Capital Management LLC's holdings in Blackstone were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Strive Asset Management LLC purchased a new position in Blackstone in the third quarter worth $30,000. Family CFO Inc bought a new stake in shares of Blackstone during the 4th quarter worth $28,000. Ares Financial Consulting LLC bought a new position in Blackstone during the fourth quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone during the fourth quarter worth about $29,000. Finally, Kelleher Financial Advisors purchased a new position in Blackstone in the third quarter valued at about $34,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 1.6%

NYSE:BX opened at $126.96 on Friday. The company has a market cap of $94.32 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.37 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 has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The stock's fifty day moving average price is $119.92 and its two-hundred day moving average price is $125.90.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 EPS. As a group, analysts expect that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone's dividend payout ratio (DPR) is 118.67%.

Trending Headlines about Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BX. Jefferies Financial Group raised their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. BNP Paribas Exane decreased their target price on Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Oppenheimer lowered their target price on Blackstone from $156.00 to $139.00 and set an "outperform" rating on the stock in a research note on Friday. Morgan Stanley cut their price target on Blackstone from $215.00 to $184.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen lowered their price objective on Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $145.52.

Insider Buying and Selling at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company's stock, valued at $113,169,363.51. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have purchased a total of 10,252,345 shares of company stock worth $209,789,893 in the last ninety days. Insiders own 1.00% of the company's stock.

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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