Truist Financial Corp has increased its holdings in Blackstone Inc. (NYSE: BX) by 9.6% during the third quarter, acquiring an additional 20,112 shares. According to filings with the Securities and Exchange Commission, this brings Truist’s total ownership to 229,134 shares, valued at approximately $39.15 million. This move reflects growing investor confidence in Blackstone, a leading global investment firm.
Other institutional investors have also adjusted their positions in Blackstone recently. For example, Arcus Capital Partners LLC lifted its stake by 1.2%, now owning 4,937 shares worth about $739,000. GHP Investment Advisors Inc. and WNY Asset Management LLC also increased their investments, with respective boosts of 3.5% and 1.7%. Currently, institutional investors hold around 70% of Blackstone’s stock.
Performance Metrics and Recent Developments
As of the last trading session, Blackstone’s stock opened at $142.86, contributing to a market capitalization of $105.49 billion. The company’s price-to-earnings (P/E) ratio stands at 40.82, with a price-to-earnings-growth (PEG) ratio of 1.03 and a beta of 1.75. The stock has experienced a 12-month low of $115.66 and a high of $190.09.
On February 17, 2025, Blackstone plans to distribute a quarterly dividend of $1.49 per share to stockholders of record as of February 9, 2025. This marks an increase from the previous dividend of $1.29, amounting to an annualized dividend of $5.96 and a yield of 4.2%. The company’s dividend payout ratio is currently 147.43%.
Analysts’ Insights and Stock Ratings
Several research firms have recently updated their outlook on Blackstone. Barclays has reduced its price target from $172.00 to $171.00, maintaining an “equal weight” rating. Evercore ISI lowered its target from $197.00 to $180.00 while retaining an “outperform” rating. UBS Group and HSBC have also adjusted their targets downward, indicating a cautious sentiment among analysts.
Despite these adjustments, nine investment analysts have issued a “Buy” rating for Blackstone, while twelve have recommended holding the stock. The consensus price target currently sits at $177.05, reflecting the mixed sentiment in the market.
Recent earnings reports have shown promising results for Blackstone. The firm surpassed revenue estimates with $4.36 billion and earnings per share of $1.75, driven by robust deal-making and strong management fees. Notably, Blackstone’s assets under management (AUM) reached a record $1.27 trillion, bolstered by approximately $71.5 billion in inflows during the quarter.
As the company navigates both opportunities and challenges in the investment landscape, it continues to attract significant interest from institutional investors. The strategic focus on data centers and infrastructure suggests a commitment to leveraging growth areas while remaining vigilant about macroeconomic factors.
In other insider news, Director James Breyer acquired 13,900 shares at an average price of $143.86 on November 4, 2024. This purchase, valued at nearly $2 million, increases his total ownership to 68,906 shares. Conversely, Tactical Opportunities, a major shareholder, sold 1,596,142 shares at an average price of $10.00, significantly reducing its stake.
Blackstone Inc. remains a key player in the global investment sector, continually adapting to market dynamics while maintaining a strong portfolio. As the firm prepares for its upcoming dividend and continues to report on its financial health, stakeholders will be closely monitoring its performance in an evolving economic landscape.
