Jim Cramer’s Bold Predictions About These 10 Financial Stocks

7. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders In Q3 2024: 50

Date of Cramer’s Comments: 09-06-24

Performance Since Then: 26.90%

Blackstone Inc. (NYSE:BX) is a global asset management giant with $43 billion in assets and $1.1 trillion in assets under management as of the third quarter. Like other asset managers, Blackstone Inc. (NYSE:BX) benefits from lower rates as they increase merger and deal-making activities and also increase liquidity in markets. The tailwinds from a lower interest rate regime are also evident in the firm’s stock which is up 35.7% year-to-date. Specifically, Blackstone Inc. (NYSE:BX)’s shares soared by 7.9% in October after the firm’s $1.01 billion in earnings per share beat analyst estimates of $0.92. The beat came on the back of heightened capital markets activity, and it followed Cramer’s mixed optimism during the previous month:

“Near term, I don’t have a lot of conviction. Blackstone has had a very big run, from the 120s to the 130s. Longer term, I think Jonathan Gray and his team are simply brilliant, and their actions this week in the data center are very strong. I like it.”