Blackstone Inc.

New York Stock Exchange
Back to all articles
Somewhat Bullish +35

Blackstone Inc. $BX Stock Holdings Cut by Sterling Capital Management LLC - MarketBeat

📉 Sterling Capital Management LLC cut its Blackstone stake by 40.9% in Q1, selling 12,710 shares to end with a position worth approximately $2.1 million.

📈 Vanguard Group boosted its holdings by 1.2% in Q4, now owning over 71.6 million shares valued at roughly $11 billion.

📈 Morgan Stanley increased its stake by 2.0% in Q4, holding approximately 32.8 million shares valued at about $5 billion.

📈 State Street Corp raised its position by 0.6% in Q4, with holdings now worth nearly $4.9 billion.

📈 Norges Bank established a new position in Blackstone valued at approximately $1.28 billion during the fourth quarter.

📈 Northern Trust Corp lifted its stake by 4.7% in Q3, acquiring an additional 329,379 shares.

💰 Blackstone reported quarterly earnings of $1.36 per share, beating analyst consensus estimates of $1.34.

📊 Revenue for the quarter reached $3.43 billion, representing a 10% increase compared to the prior year.

💸 The company paid a quarterly dividend of $1.16 on May 11th, offering a 4.0% annualized yield with an elevated payout ratio of 118.67%.

🎯 Analyst consensus rating is Moderate Buy with a price target of $150.86, though individual targets vary significantly.

📉 Goldman Sachs reduced its price objective to $116 and maintained a neutral rating in late April.

📈 Piper Sandler raised its price target to $130 and issued a neutral rating on April 27th.

📉 TD Cowen lowered its price target to $133 but upgraded the rating to Buy on May 18th.

📉 Citizens JMP dropped its target to $190 with a market outperform rating in late April.

📉 Argus reduced its price target to $146 while assigning a Buy rating on April 28th.

👤 Director Ruth Porat purchased 355 shares at an average cost of $123.04 on May 11th.

👤 Major shareholder Private Multi-Asset Blackstone acquired 765,111 shares for approximately $20 million in late June.

📊 Insiders collectively bought over 10.25 million shares worth roughly $210 million over the last 90 days.

🏢 Blackstone maintains a market capitalization of $85.92 billion with a P/E ratio of 29.58.

📉 The stock trades below its 200-day moving average of $129.07 and 50-day moving average of $120.62.

Bullish Signals
  • Blackstone reported quarterly earnings of $1.36 per share, beating analyst estimates of $1.34.
  • Revenue increased by 10% year-over-year to reach $3.43 billion for the quarter.
  • Major institutional investors including Vanguard Group, Morgan Stanley, State Street Corp, Norges Bank, and Northern Trust Corp increased their holdings in Q3 or Q4.
  • Director Ruth Porat purchased 355 shares at an average price of $123.04, increasing her position by 0.86%.
  • Major shareholder Private Multi-Asset Blackstone acquired 765,111 shares worth approximately $20 million in late June.
  • Insiders collectively purchased over 10.25 million shares valued at roughly $210 million over the last 90 days.
  • TD Cowen upgraded its rating to Buy despite lowering the price target, indicating confidence in long-term prospects.
  • Argus assigned a Buy rating and Piper Sandler maintained a neutral stance with a raised price target.
Risk Factors
  • Sterling Capital Management LLC significantly reduced its stake by 40.9% in the first quarter.
  • The dividend payout ratio is elevated at 118.67%, suggesting the company may be paying out more than it earns from current earnings.
  • Goldman Sachs reduced its price objective to $116 and maintained a neutral rating.
  • Citizens JMP lowered its price target to $190 with a market outperform rating.
  • Argus reduced its price target to $146 despite assigning a Buy rating.
  • The stock is trading below both its 50-day moving average of $120.62 and 200-day moving average of $129.07.
Full Analysis
Sterling Capital Management LLC reduced its stake in Blackstone Inc. (NYSE: BX) by 40.9% during the first quarter, selling 12,710 shares and holding approximately 18,341 shares valued at $2.1 million according to recent SEC filings. Conversely, major institutional investors including Vanguard Group, Morgan Stanley, State Street Corp, Norges Bank, and Northern Trust Corp increased their positions in the asset manager during the fourth quarter or third quarter. Blackstone reported strong quarterly earnings of $1.36 per share, surpassing analyst estimates of $1.34, while revenue grew 10% year-over-year to $3.43 billion. The company also announced a quarterly dividend of $1.16 per share paid on May 11th, resulting in an annualized yield of 4.0%, though the payout ratio remains elevated at 118.67%. Wall Street sentiment is mixed with a consensus rating of Moderate Buy and a price target of $150.86. Recent analyst actions include Piper Sandler raising its target to $130, TD Cowen lowering it to $133, Goldman Sachs reducing its objective to $116, Citizens JMP dropping to $190, and Argus cutting to $146. Insider activity shows Director Ruth Porat and major shareholder Private Multi-Asset Blackstone purchasing shares recently.