SFE Investment Counsel Acquires 14,208 Shares of Blackstone Inc. $BX

SFE Investment Counsel boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,700 shares of the asset manager’s stock after acquiring an additional 14,208 shares during the quarter. SFE Investment Counsel’s holdings in Blackstone were worth $7,670,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BX. Family CFO Inc purchased a new position in Blackstone in the 4th quarter worth about $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone during the 4th quarter worth $29,000. Strive Asset Management LLC bought a new position in shares of Blackstone during the 3rd quarter worth $30,000. Finally, Palladiem LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.7%

Shares of BX stock traded up $0.82 during trading hours on Friday, reaching $122.97. 2,568,812 shares of the company’s stock were exchanged, compared to its average volume of 4,830,672. 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 company has a market cap of $91.35 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 1.34 and a beta of 1.58. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The stock’s 50 day moving average is $119.72 and its 200-day moving average is $126.95.

Blackstone (NYSE:BX) last announced its earnings results 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. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. Analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat bought 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased 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 in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 10,252,345 shares of company stock worth $209,789,893 in the last three months. 1.00% of the stock is owned by company insiders.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Citizens JMP lifted its price target on Blackstone to $165 from $190 and kept an “outperform” view, signaling confidence that the shares still have meaningful upside from current levels. Blackstone (NYSE:BX) Given New $165.00 Price Target at Citizens Jmp
• Positive Sentiment: Blackstone and TPG are reportedly seeking more than $4 billion for Hologic’s surgical unit, underscoring continued private-equity dealmaking activity and potential value creation from large asset sales or acquisitions. Blackstone, TPG seek over $4 billion for Hologic’s surgical unit, FT says
• Positive Sentiment: Reports that Barclays is preparing roughly $875 million of debt financing tied to a Blackstone takeover highlight active transaction flow that can support fees and investment returns for the firm. Market Chatter: Barclays Readies $875 Million Debt Sale for Blackstone’s Senior Takeover
• Neutral Sentiment: Barclays cut Blackstone’s price target to $119 from $124 and kept an “equal weight” rating, reflecting a more cautious near-term view even as the target remains close to the current share price. Blackstone (NYSE:BX) Price Target Lowered to $119.00 at Barclays
• Neutral Sentiment: A separate report said Apollo and Blackstone helped turn Broadcom’s and Anthropic’s AI chip financing into debt for other investors, which is notable but not directly a clear positive or negative catalyst for BX shares. Apollo and Blackstone just turned Broadcom, Anthropic’s AI chip bet into somebody else’s debt

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BX shares. Rothschild & Co Redburn cut their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. BMO Capital Markets lifted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Piper Sandler increased their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. BNP Paribas Exane reduced their price target on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Citizens Jmp cut their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.10.

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.