Allen Investment Management LLC Has $32.90 Million Holdings in Blackstone Inc. $BX

Allen Investment Management LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 9.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 286,132 shares of the asset manager’s stock after selling 29,856 shares during the period. Allen Investment Management LLC’s holdings in Blackstone were worth $32,902,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BX. Strive Asset Management LLC bought a new position in shares of Blackstone during the third quarter valued at about $30,000. Family CFO Inc purchased a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC bought a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new stake in Blackstone during the fourth quarter worth $29,000. Finally, Kelleher Financial Advisors purchased a new position in Blackstone in the third quarter worth $34,000. Institutional investors own 70.00% of the company’s stock.

Blackstone News Roundup

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.

Analyst Ratings Changes

A number of research analysts have weighed in on BX shares. Barclays dropped their target price on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Citizens Jmp lowered their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Rothschild & Co Redburn reduced their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Argus lowered their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, HSBC cut their price target on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research note on Friday, April 10th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.52.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the transaction, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the transaction, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.0%

BX opened at $126.96 on Monday. The firm has a market capitalization of $94.32 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.37 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 fifty day moving average price of $119.92 and a 200-day moving average price of $125.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

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.