Blackstone Inc. $BX Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in Blackstone Inc. (NYSE:BX) by 24.8% in the 1st quarter, Holdings Channel reports. The fund owned 537,227 shares of the asset manager’s stock after selling 177,475 shares during the period. NewEdge Wealth LLC’s holdings in Blackstone were worth $61,776,000 as of its most recent SEC filing.

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

Blackstone Stock Performance

Blackstone stock opened at $122.85 on Thursday. The company has a market cap of $91.26 billion, a PE ratio of 31.42, a P/E/G ratio of 1.35 and a beta of 1.58. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a fifty day moving average price of $120.06 and a two-hundred day moving average price of $125.05. 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 results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts expect that Blackstone Inc. will post 5.85 earnings per share for the current year.

Key Stories Impacting Blackstone

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 Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen cut their target price on Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Oppenheimer dropped their price target on shares of Blackstone from $156.00 to $139.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Sanford C. Bernstein started coverage on shares of Blackstone in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Finally, BMO Capital Markets increased their price target on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. 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 company has an average rating of “Moderate Buy” and an average price target of $145.71.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 355 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares in the company, valued at $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.