Prudential Financial Inc. has increased its investment in Blackstone Inc. by 8.8%, acquiring an additional 32,958 shares during the second quarter, bringing its total ownership to 409,390 shares. According to a recent filing with the Securities and Exchange Commission, Prudential’s stake in Blackstone is valued at approximately $61.24 million, reflecting about 0.06% of the asset manager’s stock.
Other institutional investors have also been actively adjusting their positions in Blackstone. Notably, 1248 Management LLC initiated a new investment in the first quarter, valued at around $25,000. In the second quarter, Traub Capital Management LLC entered a similar investment worth approximately $27,000, while several other firms, including Wealth Preservation Advisors LLC and Family CFO Inc., also acquired stakes valued at about $28,000. Currently, hedge funds and institutional investors collectively own 70% of Blackstone’s stock.
Research firms have recently commented on Blackstone’s performance. Jefferies Financial Group has adjusted its price target downward from $199.00 to $187.00, while Citigroup has reduced its target from $185.00 to $170.00, maintaining a “neutral” rating. Conversely, Goldman Sachs raised its target slightly from $173.00 to $174.00, accompanied by a “neutral” rating. JMP Securities has reaffirmed a “market outperform” rating with a target price of $195.00. On average, Blackstone holds a “Moderate Buy” consensus rating among analysts, with a target price of $179.00.
As of the last trading session, Blackstone’s stock opened at $142.59. The firm holds a market capitalization of $105.30 billion, with key financial metrics indicating a debt-to-equity ratio of 0.60 and a price-to-earnings ratio of 40.74. The stock has displayed volatility, with a one-year low of $115.66 and a high of $200.96.
In its most recent earnings report, Blackstone posted earnings of $0.97 per share with a revenue of $2.49 billion for the quarter that ended on November 22nd. Analysts forecast an EPS of 5.87 for the current fiscal year.
Blackstone also announced a quarterly dividend of $1.29 per share, effective November 10th, up from its previous distribution of $1.03. This dividend reflects an annualized payout of $5.16 per share, translating to a yield of 3.6%, demonstrating the firm’s commitment to returning value to shareholders.
In recent insider trading activities, John G. Finley, an insider at Blackstone, sold 21,500 shares, while Director Ruth Porat purchased 324 shares, indicating ongoing interest and activity within the company from its leadership.
Blackstone Inc. specializes in alternative asset management across various sectors, including real estate, private equity, credit, and multi-asset class strategies. With continued interest from institutional investors and positive earnings reports, Blackstone appears to be on a solid path forward, attracting further attention in the market.