Torray Investment Partners LLC Has $18.99 Million Stake in Blackstone Inc. $BX

Key Points

• Torray Investment Partners boosted its Blackstone stake by 18.4% in Q1, buying 25,613 shares and bringing its position to 165,160 shares worth about $18.99 million.
• Analyst sentiment remains constructive overall, with a consensus rating of “Moderate Buy” and an average price target of $147.10, though some firms recently trimmed their targets.
• Blackstone’s latest quarter topped EPS estimates at $1.36 per share, while revenue rose 10% year over year; the company also paid a $1.16 quarterly dividend, implying a 3.8% yield.

Torray Investment Partners LLC lifted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,160 shares of the asset manager's stock after buying an additional 25,613 shares during the period. Blackstone comprises approximately 2.8% of Torray Investment Partners LLC's portfolio, making the stock its 16th biggest position. Torray Investment Partners LLC's holdings in Blackstone were worth $18,992,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Family CFO Inc acquired a new position in shares of Blackstone in the 4th quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone during the 4th quarter valued at $29,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone during the third quarter worth $30,000. Finally, Palladiem LLC purchased a new position in Blackstone in the fourth quarter valued at about $31,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BX shares. Oppenheimer raised their price target on Blackstone from $154.00 to $156.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research report on Monday, June 8th. They set an "outperform" rating on the stock. Barclays decreased their target price on shares of Blackstone from $124.00 to $119.00 and set an "equal weight" rating for the company in a research report on Thursday. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a report on Wednesday, May 27th. Finally, HSBC decreased their price objective on shares of Blackstone from $164.00 to $131.00 and set a "hold" rating for the company in a report on Friday, April 10th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.10.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.82 during trading hours on Friday, hitting $122.97. 2,568,812 shares of the stock were exchanged, compared to its average volume of 4,830,672. The firm has a market capitalization of $91.35 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.33 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. The company's 50 day moving average is $119.72 and its 200 day moving average is $126.95.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results 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. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts expect that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

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

Blackstone News Roundup

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

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 355 shares of the firm's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director directly owned 41,818 shares of the company's stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company's stock, valued at $73,233.72. This represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by insiders.

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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