CI Investments Inc. Decreases Stock Position in Blackstone Inc. $BX

CI Investments Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,546 shares of the asset manager’s stock after selling 7,027 shares during the quarter. CI Investments Inc.’s holdings in Blackstone were worth $17,081,000 as of its most recent filing with the SEC.

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

Blackstone Price Performance

BX opened at $122.85 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market cap of $91.26 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.35 and a beta of 1.58. The stock’s 50-day moving average price is $120.06 and its 200 day moving average price is $125.05. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 5.85 earnings per share for the current year.

Insider Buying and Selling at Blackstone

In related news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone stock in a transaction on Friday, May 15th. The shares were bought at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the transaction, the insider 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 position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 10,252,345 shares of company stock valued at $209,789,893. Insiders own 1.00% of the company’s stock.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone, Wellington Management, and Vanguard launched two new investment solutions that simplify access to public and private markets, potentially broadening distribution and supporting future fee growth. Article Title
• Positive Sentiment: Blackstone also expanded its strategic push into India infrastructure and AI services, highlighting new growth avenues beyond its core asset-management business. Article Title
• Neutral Sentiment: Investors are waiting for Blackstone’s earnings release, which is expected to provide fresh guidance on fundraising, realizations, and performance across private equity, credit, and real estate. Article Title
• Neutral Sentiment: Keefe, Bruyette & Woods upgraded Blackstone to hold, suggesting a more balanced near-term view rather than a strongly bullish catalyst. Article Title
• Negative Sentiment: Some coverage suggests Blackstone’s private-market products are launching after an exodus from similar private credit funds earlier this year, which may keep investor sentiment cautious around new offerings. Article Title

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Sanford C. Bernstein began coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating for the company. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. TD Cowen cut their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, HSBC reiterated a “hold” rating and issued a $135.00 price objective on shares of Blackstone in a report on Monday. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $145.71.

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.