Blackstone (BX, Financial) experienced a significant stock price increase of 5.00%, reaching $194.29 per share. The trading volume was 2.66399 million shares, with a turnover rate of 0.35% and a price fluctuation of 5.00%. Recent financial reports indicate that Blackstone achieved a revenue of $2.521 billion, a net profit of $781 million, and earnings per share of $1.02. The company currently has a price-to-earnings ratio of 66.74. In terms of analyst ratings, 31% of institutions recommend buying, 62% suggest holding, and 7% advise selling.
Within the asset management sector, which saw an overall increase of 1.45%, related stocks such as The Marygold Companies, Inc. and others showed notable activity. Blackstone remains the largest alternative asset management firm globally, with $1.076 trillion in assets under management as of June 2024. The firm operates across four main business segments: private equity, real estate, credit and insurance, and multi-asset investments. It primarily serves institutional investors but also caters to high-net-worth individuals.
Recent developments indicate that Blackstone is nearing a $2.6 billion acquisition of a multifunctional office building in Tokyo from Seibu Holdings Inc. This strategic move follows a lengthy bidding process, positioning Blackstone as the leading contender. Seibu Holdings' stock initially rose by 5.1% following the news but later decreased by 1.2%.
