Waverly Advisors LLC Acquires 10,778 Shares of Blackstone Inc. $BX

Key Points

• Waverly Advisors increased its Blackstone stake by 8.5%, purchasing 10,778 additional shares to hold 138,051 shares valued at approximately $15.9 million. Institutional investors collectively own 70% of Blackstone.
• Blackstone reported stronger-than-expected quarterly results, with EPS of $1.52 versus the $1.34 consensus and revenue of $5.04 billion, up 35.9% year over year.
• The company raised its quarterly dividend to $1.29 per share, equivalent to a $5.16 annualized payout and a 4.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $147.76.

Waverly Advisors LLC raised its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,051 shares of the asset manager's stock after buying an additional 10,778 shares during the period. Waverly Advisors LLC's holdings in Blackstone were worth $15,875,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Family CFO Inc bought a new stake in shares of Blackstone during the 4th quarter worth $28,000. Ares Financial Consulting LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new position in shares of Blackstone during the 4th quarter worth about $29,000. Strive Asset Management LLC acquired a new stake in Blackstone in the 3rd quarter valued at approximately $30,000. Finally, Palladiem LLC bought a new position in Blackstone in the 4th quarter worth approximately $31,000. Institutional investors own 70.00% of the company's stock.

Blackstone Stock Performance

NYSE:BX opened at $129.72 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $120.33 and a 200 day moving average price of $124.58. The firm has a market capitalization of $96.36 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The company's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. Research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Key Stories Impacting Blackstone

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

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider owned 9,111,800 shares of the company's stock, valued at $182,236,000. This represents a -2,529.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 10,252,345 shares of company stock worth $209,789,893 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the topic of a number of research reports. Rothschild & Co Redburn dropped their target price on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 9th. Royal Bank Of Canada raised their price target on shares of Blackstone from $161.00 to $169.00 and gave the stock an "outperform" rating in a research report on Friday. Piper Sandler increased their target price on shares of Blackstone from $122.00 to $130.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. BMO Capital Markets upped their price target on Blackstone from $126.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, April 13th. Finally, Citizens Jmp decreased their price objective on Blackstone from $190.00 to $165.00 and set a "market outperform" rating on the stock in a report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Blackstone currently has an average rating of "Moderate Buy" and an average target price of $147.76.

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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