Blackstone Inc.

New York Stock Exchange
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Somewhat Bullish +45

Blackstone Inc. $BX Shares Bought by Bank of New York Mellon Corp

🏦 Bank of New York Mellon Corp grew its Blackstone stake by 8.0% in Q1 to own 4,520,908 shares valued at $519.86 million.

📈 Brighton Jones LLC increased its position by 34.6%, now holding 7,917 shares worth $1.365 million.

📉 Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares for $28.26 million, reducing ownership by 99.74%.

💰 Blackstone paid a $1.16 quarterly dividend yielding 3.6%, though the payout ratio is 118.67%.

📊 The stock trades at a market cap of $95.63 billion with a P/E ratio of 32.92 and a beta of 1.58.

🔍 Analyst consensus is 'Moderate Buy' with an average target price of $146.33 across thirteen buy and eleven hold ratings.

📉 Oppenheimer raised its target price to $156.00 with an 'outperform' rating in a recent note.

📈 Piper Sandler lifted its target price from $122.00 to $130.00 while maintaining a 'neutral' rating.

🏢 Company insiders have bought 10,252,345 shares worth $209.79 million in the last ninety days.

📉 Zacks Research upgraded Blackstone from a 'strong sell' to a 'hold' rating on June 8th.

Bullish Signals
  • Major institutional investor Bank of New York Mellon Corp increased its stake by 8.0% in Q1, signaling continued confidence in the asset manager.
  • Brighton Jones LLC significantly grew its position by 34.6%, adding to a growing list of institutions increasing exposure.
  • Insiders have purchased over $209 million worth of stock in the last ninety days, demonstrating strong internal conviction.
  • Oppenheimer raised its target price to $156.00 and maintained an 'outperform' rating, suggesting upside potential.
  • Piper Sandler increased its price objective to $130.00, indicating a positive outlook on the stock's valuation.
Risk Factors
  • Major shareholder Bx Buzz Ml-1 Gp Llc sold over 7.4 million shares for $28.26 million, drastically reducing its ownership stake.
  • The company's dividend payout ratio is 118.67%, meaning the dividend exceeds current earnings per share.
  • BNP Paribas Exane cut its price objective to $125.00 and assigned a 'neutral' rating in late June.
  • Zacks Research downgraded the stock from a 'strong sell' to a 'hold', reflecting mixed analyst sentiment.
Full Analysis
Bank of New York Mellon Corp increased its stake in Blackstone Inc. (NYSE:BX) by 8.0% during the first quarter, acquiring an additional 333,798 shares to hold a total position of 4,520,908 shares valued at approximately $519.86 million. This move represents about 0.61% of Blackstone's outstanding stock. Several other institutional investors also adjusted their positions, with Brighton Jones LLC increasing its stake by 34.6% and Sei Investments Co. lifting its position by 1.9%, while hedge funds collectively own roughly 70% of the company. Blackstone Inc. shares traded at $128.73 on Friday, maintaining a market capitalization of $95.63 billion with a price-to-earnings ratio of 32.92. The company recently paid a quarterly dividend of $1.16 per share to stockholders of record as of May 4th, resulting in an annualized dividend yield of 3.6%. However, the payout ratio stands at 118.67%, indicating the dividend exceeds current earnings per share. Recent insider activity includes significant sales by major shareholder Bx Buzz Ml-1 Gp Llc, which sold over 7.4 million shares for approximately $28.26 million, reducing its ownership to less than 0.01%. Conversely, company insiders have purchased over 10.25 million shares worth roughly $209.79 million in the last ninety days. Analyst consensus remains a 'Moderate Buy' with an average target price of $146.33, though ratings vary among major banks.