Key Points
- Blackstone major shareholder Treasury Holdings bought 9,486,795 shares on May 15 at an average price of $20.00, totaling about $189.7 million.
- After the transaction, the insider directly owned 9,111,800 shares valued at roughly $182.2 million, and the purchase was disclosed in an SEC filing as required for large shareholders.
- Blackstone also remains in focus for broader business developments, including a newly announced AI cloud joint venture with Google that could become a significant growth driver.
Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Treasury Holdings Blackstone acquired 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, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider directly owned 9,111,800 shares of the company's stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Blackstone Price Performance
Shares of Blackstone stock opened at $114.31 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $84.92 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.28 and a beta of 1.63. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The stock's 50-day simple moving average is $117.21 and its 200-day simple moving average is $134.14.
Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 earnings per share. As a group, analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The firm also recently declared 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. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 4.1%. Blackstone's dividend payout ratio is presently 118.67%.
Blackstone News Summary
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Blackstone and Google announced a joint venture to build a new AI cloud company centered on Google’s Tensor Processing Units, giving Blackstone exposure to a fast-growing AI infrastructure market. Blackstone Announces Joint Venture with Google to Create New TPU Cloud
- Positive Sentiment: Reports say Blackstone is committing $5 billion in equity to the venture, which may be viewed as a significant long-term investment in AI compute capacity and a potential new growth driver. Blackstone and Google form AI infrastructure joint venture focused on TPU cloud expansion
- Positive Sentiment: Market commentary said the Blackstone-Google deal is pressuring smaller cloud infrastructure names, suggesting investors may see Blackstone as better positioned than leveraged AI infrastructure competitors. Google and Blackstone to Create New AI Cloud Company. The Stocks Are Rising.
- Neutral Sentiment: TD Cowen lowered its price target on Blackstone to $133 from $140, but kept a Buy rating, which points to continued upside expectations despite the trim.
- Neutral Sentiment: Blackstone also abandoned its pursuit of the €2.5 billion Stroeer deal, a separate M&A item that does not appear central to the stock’s immediate move.
- Neutral Sentiment: A major shareholder, Treasury Holdings I. Blackstone, disclosed a large share purchase, which can be read as a confidence signal but is less likely to move the stock by itself.
Analyst Upgrades and Downgrades
BX has been the topic of a number of recent research reports. Royal Bank Of Canada set a $173.00 price target on shares of Blackstone in a research note on Friday, April 24th. Jefferies Financial Group upped their price objective on Blackstone from $143.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. TD Cowen decreased their price objective on Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research report on Monday. Piper Sandler upped their price objective on Blackstone from $122.00 to $130.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Finally, Morgan Stanley decreased their price objective on Blackstone from $215.00 to $184.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $151.05.
View Our Latest Research Report on BX
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Front Row Advisors LLC purchased a new position in Blackstone during the 1st quarter worth $57,000. Paragon Private Wealth Management LLC increased its holdings in Blackstone by 55.7% during the 1st quarter. Paragon Private Wealth Management LLC now owns 7,178 shares of the asset manager's stock worth $825,000 after purchasing an additional 2,568 shares during the period. Bank of America Corp DE increased its holdings in Blackstone by 3.4% during the 1st quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager's stock worth $1,326,762,000 after purchasing an additional 384,264 shares during the period. Edgestream Partners L.P. increased its position in Blackstone by 19.5% during the 1st quarter. Edgestream Partners L.P. now owns 37,187 shares of the asset manager's stock valued at $4,276,000 after purchasing an additional 6,059 shares during the period. Finally, Centaurus Financial Inc. increased its position in Blackstone by 3.1% during the 1st quarter. Centaurus Financial Inc. now owns 28,322 shares of the asset manager's stock valued at $3,257,000 after purchasing an additional 861 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.
Blackstone Company Profile
(
Get Free Report)
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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