Entropy Technologies LP Has $11.60 Million Stake in Blackstone Inc. $BX

Entropy Technologies LP raised its position in Blackstone Inc. (NYSE:BX) by 605.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,845 shares of the asset manager’s stock after acquiring an additional 86,557 shares during the quarter. Entropy Technologies LP’s holdings in Blackstone were worth $11,596,000 at the end of the most recent reporting period.

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

Insider Activity at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of Blackstone 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 acquisition, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. This trade represents a 10.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 10,252,345 shares of company stock worth $209,789,893 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Shares of Blackstone stock opened at $129.72 on Friday. The company has a 50-day simple moving average of $120.33 and a two-hundred day simple moving average of $124.84. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The stock has a market capitalization of $96.36 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Analysts forecast that Blackstone Inc. will post 5.85 EPS for the current year.

Blackstone Increases Dividend

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

Blackstone News Roundup

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets upped their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Oppenheimer increased their price target on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. Citizens Jmp reduced their price objective on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Finally, Piper Sandler increased their target price on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. 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, Blackstone currently has an average rating of “Moderate Buy” and an average price target 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.