Border to Coast Pensions Partnership Ltd Increases Holdings in Blackstone Inc. $BX

Border to Coast Pensions Partnership Ltd grew its stake in Blackstone Inc. (NYSE:BX) by 21.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,000 shares of the asset manager’s stock after acquiring an additional 35,000 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Blackstone were worth $22,492,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Blackstone during the fourth quarter worth about $1,275,747,000. Capital Research Global Investors grew its stake in shares of Blackstone by 99.2% in the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after buying an additional 3,178,133 shares during the period. Amundi raised its position in shares of Blackstone by 85.6% during the 4th quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after buying an additional 1,249,269 shares during the period. Focus Partners Wealth lifted its holdings in Blackstone by 476.1% in the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock valued at $204,193,000 after acquiring an additional 1,094,307 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after acquiring an additional 840,258 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rothschild & Co Redburn decreased their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. TD Cowen dropped their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Argus decreased their price objective on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Insider Activity

In related news, Director Ruth Porat acquired 355 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director owned 41,818 shares in the company, valued at $5,145,286.72. This represents a 0.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 10,252,345 shares of company stock worth $209,789,893 over the last three months. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.3%

Shares of BX opened at $115.66 on Friday. The company’s 50-day simple moving average is $120.62 and its 200-day simple moving average is $129.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock has a market capitalization of $85.92 billion, a PE ratio of 29.58, a P/E/G ratio of 1.25 and a beta of 1.59.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion during 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. Analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

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.