Blackstone Inc. $BX Stock Sold by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI cut its holdings in Blackstone Inc. (NYSE:BX) by 2.9% during the 3rd quarter, Holdings Channel reports. The fund owned 349,571 shares of the asset manager’s stock after selling 10,338 shares during the period. Blackstone comprises 3.2% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 10th biggest holding. Fishman Jay A Ltd. MI’s holdings in Blackstone were worth $39,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BX. BlackRock Inc. purchased a new stake in shares of Blackstone in the 2nd quarter worth $6,112,162,000. Bank of America Corp DE bought a new position in Blackstone in the 2nd quarter worth $1,364,373,000. Legal & General Group Plc bought a new position in Blackstone in the 2nd quarter worth $605,267,000. Bank of New York Mellon Corp lifted its position in Blackstone by 8.0% during the first quarter. Bank of New York Mellon Corp now owns 4,520,908 shares of the asset manager’s stock valued at $519,859,000 after purchasing an additional 333,798 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Blackstone by 1.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager’s stock valued at $512,250,000 after purchasing an additional 52,755 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BX shares. Royal Bank Of Canada upped their price target on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Blackstone in a research report on Friday, October 16th. Oppenheimer boosted their price objective on Blackstone from $164.00 to $168.00 and gave the company an “outperform” rating in a research note on Friday. HSBC reissued a “hold” rating and issued a $135.00 target price on shares of Blackstone in a report on Monday, July 20th. Finally, Citigroup restated a “market outperform” rating on shares of Blackstone in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Moderate Buy” and an average target price of $144.57.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone closed its fifth Energy Transition Partners fund with $8.7 billion in commitments, strengthening its fee-earning asset base and demonstrating continued institutional demand for its private-markets strategies. Kirkland Advises on Close of $8.7 Billion Blackstone Energy Transition Partners V
• Positive Sentiment: Blackstone is participating in a reported $63 billion financing vehicle to acquire AI computing infrastructure from Broadcom and lease it to Anthropic. The transaction could expand Blackstone’s exposure to fast-growing data-center and AI infrastructure markets. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
• Positive Sentiment: The firm opened a new office in Bengaluru, expanding its presence in India and potentially improving its ability to source investments in one of the world’s fastest-growing major economies. Blackstone Opens New Office in Bengaluru
• Positive Sentiment: BMO Capital Markets assigned Blackstone a Buy rating, while broader sell-side coverage moved the shares to a “Moderate Buy” consensus. Analysts have also argued that recent private-credit concerns were overstated and that the stock remains attractively valued. Blackstone Gets a Buy from BMO Capital
• Neutral Sentiment: Blackstone priced $1.1 billion of senior notes, consisting of $600 million due in 2031 and $500 million due in 2033. The financing provides liquidity for corporate needs, but its guaranteed debt adds interest expense and leverage. Blackstone Prices $1.1 Billion Senior Notes Offering

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the completion of the transaction, the director directly owned 771,599 shares of the company’s stock, valued at approximately $95,523,956.20. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have bought 464,792 shares of company stock valued at $12,205,945 and have sold 4,077,276 shares valued at $37,573,644. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.9%

Shares of Blackstone stock opened at $116.81 on Wednesday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $165.14. The company has a fifty day moving average of $124.08 and a 200 day moving average of $125.03.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the business earned $0.80 earnings per share. Blackstone’s revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is a negative change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, November 2nd.

About Blackstone

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.