BBR Partners LLC Has $1.57 Million Stock Holdings in Blackstone Inc. $BX

BBR Partners LLC boosted its position in Blackstone Inc. (NYSE:BX) by 266.9% in the 4th quarter, HoldingsChannel reports. The firm owned 10,162 shares of the asset manager’s stock after acquiring an additional 7,392 shares during the period. BBR Partners LLC’s holdings in Blackstone were worth $1,566,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Blackstone in the 4th quarter valued at about $1,275,747,000. Vanguard Group Inc. raised its holdings in Blackstone by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after acquiring an additional 1,335,060 shares during the period. Close Asset Management Ltd raised its holdings in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after acquiring an additional 1,133,197 shares during the period. Canada Pension Plan Investment Board raised its holdings in Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after acquiring an additional 583,384 shares during the period. Finally, Invesco Ltd. raised its holdings in Blackstone by 11.3% in the 3rd quarter. Invesco Ltd. now owns 4,107,665 shares of the asset manager’s stock valued at $701,795,000 after acquiring an additional 416,933 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HSBC lowered their target price on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Citizens Jmp lowered their target price on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. The Goldman Sachs Group lowered their target price on shares of Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $151.05.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone announced an investment partnership with Nippon Life Insurance focused on private credit and real estate capital deployment, adding a new source of assets under management and potential fee growth. Blackstone, Nippon Life Insurance partner on private credit, real estate
• Positive Sentiment: Blackstone-backed Liftoff Mobile completed an IPO, reinforcing Blackstone’s ability to monetize portfolio investments and create value through exits. Blackstone’s Liftoff IPO And Nippon Life Deal Reshape BX Outlook
• Neutral Sentiment: TransAlta agreed to buy Blackstone-backed Colorado peaking plants for about $1 billion, which shows continued asset sale activity and potential capital recycling, but the stock impact is unclear from the announcement alone. TransAlta to buy Blackstone-backed Colorado peaking plants for $1 billion
• Negative Sentiment: Blackstone’s private credit fund withdrawal cap is fueling renewed investor anxiety about liquidity in private markets and could pressure sentiment if redemption stress spreads to peers. Investors Seek to Pull 10% from Blackstone’s Giant Private-Credit Fund
• Negative Sentiment: Peer fund redemption limits from Partners Group and Cliffwater triggered a broader selloff in alternative asset managers, weighing on BX despite today’s rebound. KKR, Ares, Blackstone tumble premarket as Partners Group caps private equity fund withdrawals

Blackstone Stock Performance

NYSE BX opened at $118.62 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $88.12 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 1.20 and a beta of 1.59. The firm’s 50 day simple moving average is $119.08 and its 200 day simple moving average is $131.84. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. As a group, research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider owned 25,832 shares in the company, valued at $90,670.32. This trade represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the transaction, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 12,355,303 shares of company stock valued at $264,789,896. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.