Northern Trust Corp Has $1.21 Billion Holdings in Blackstone Inc. (NYSE:BX)

28 Apr 2025, 08:00 by Amy Steele · The Cerbat Gem

Northern Trust Corp increased its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 10.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,016,046 shares of the asset manager’s stock after buying an additional 681,512 shares during the period. Northern Trust Corp’s holdings in Blackstone were worth $1,209,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $2,102,000. Lord Abbett & CO. LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $63,109,000. Highland Capital Management LLC increased its stake in Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Nordea Investment Management AB increased its stake in Blackstone by 8.8% in the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock valued at $10,053,000 after acquiring an additional 4,688 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 1.3 %

Shares of BX stock opened at $132.80 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a 50 day simple moving average of $141.56 and a two-hundred day simple moving average of $164.19. The company has a market cap of $96.87 billion, a P/E ratio of 36.58, a PEG ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the business posted $0.98 EPS. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.80%. Blackstone’s payout ratio is 112.05%.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a “buy” rating on shares of Blackstone in a research note on Monday, April 21st. Barclays lifted their price target on Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. JMP Securities reissued a “market outperform” rating and set a $165.00 price target on shares of Blackstone in a research note on Thursday. Finally, Morgan Stanley cut their price target on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $154.82.

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