Cibc World Market Inc. Grows Holdings in Blackstone Inc. $BX

Cibc World Market Inc. boosted its stake in Blackstone Inc. (NYSE:BX) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 169,115 shares of the asset manager’s stock after purchasing an additional 6,670 shares during the period. Cibc World Market Inc.’s holdings in Blackstone were worth $26,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC purchased a new stake in shares of Blackstone in the 3rd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at about $30,000. Strive Asset Management LLC purchased a new stake in Blackstone during the third quarter worth about $30,000. Family CFO Inc purchased a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the 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 completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 12,355,303 shares of company stock worth $264,789,896 over the last three months. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Up 7.6%

NYSE:BX opened at $118.62 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $88.12 billion, a PE ratio of 30.34, a P/E/G ratio of 1.20 and a beta of 1.59. The stock’s 50 day moving average price is $119.08 and its 200 day moving average price is $131.84. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. On average, research analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

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

Key Headlines 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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. The Goldman Sachs Group decreased their target price on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, April 24th. JPMorgan Chase & Co. reduced their price target on Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Barclays lowered their price objective on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Finally, UBS Group decreased their price target on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $151.05.

Blackstone 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.