Renaissance Technologies LLC Takes $164.60 Million Position in Blackstone Inc. $BX

Renaissance Technologies LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,431,400 shares of the asset manager’s stock, valued at approximately $164,597,000.

A number of other large investors have also bought and sold shares of BX. Vanguard Personalized Indexing Management LLC raised its holdings in Blackstone by 9.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock valued at $15,561,000 after acquiring an additional 8,321 shares during the period. Greenup Street Wealth Management LLC grew its position in shares of Blackstone by 1,034.3% in the fourth quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock valued at $2,149,000 after purchasing an additional 12,711 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Blackstone by 8.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 249,009 shares of the asset manager’s stock worth $39,543,000 after purchasing an additional 19,603 shares in the last quarter. Vanguard Group Inc. boosted its stake in Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after purchasing an additional 840,258 shares during the period. Finally, Benson Investment Management Company Inc. bought a new stake in shares of Blackstone during the fourth quarter valued at about $5,856,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BX. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Sanford C. Bernstein initiated coverage on shares of Blackstone in a research note on Monday, June 8th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. TD Cowen lifted their price objective on Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.76.

Key Headlines Impacting Blackstone

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

Blackstone Price Performance

BX stock opened at $129.72 on Friday. The firm has a 50 day simple moving average of $120.33 and a two-hundred day simple moving average of $124.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76. The stock has a market cap of $96.36 billion, a PE ratio of 29.02, a P/E/G ratio of 1.35 and a beta of 1.58. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts predict that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is currently 103.80%.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 10,252,345 shares of company stock worth $209,789,893 in the last quarter. 1.00% of the stock is owned by company insiders.

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.