Illinois Municipal Retirement Fund Sells 5,400 Shares of Blackstone Inc. $BX

Illinois Municipal Retirement Fund reduced its position in shares of Blackstone Inc. (NYSE:BX) by 62.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,185 shares of the asset manager’s stock after selling 5,400 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Blackstone were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Strive Asset Management LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $30,000. Family CFO Inc bought a new stake in Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Blackstone during the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Key Blackstone News

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

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, 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 purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Trading Up 4.2%

Shares of BX opened at $129.72 on Friday. 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 firm has a market capitalization of $96.36 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.35 and a beta of 1.58. The company has a 50-day moving average of $120.33 and a 200 day moving average of $124.84. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09.

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

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on BX. Royal Bank Of Canada lifted their price objective on shares of Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Morgan Stanley reduced their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Oppenheimer boosted their target price on Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Barclays upped their target price on Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.76.

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.