Capital International Investors Sells 1,683,793 Shares of Blackstone Inc. $BX

Key Points

• Capital International Investors cut its Blackstone stake by 31.4% in the fourth quarter, selling 1.68 million shares and leaving it with about 3.67 million shares valued at roughly $565.8 million.
• Blackstone reported better-than-expected quarterly earnings, posting $1.36 EPS versus the $1.34 consensus estimate, while revenue rose 10% year over year to $3.43 billion.
• The stock is facing a key overhang from redemption pressure in its private credit fund, with reports that Blackstone limited withdrawals as investors sought to pull more money than expected.

Capital International Investors reduced its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 31.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,670,890 shares of the asset manager's stock after selling 1,683,793 shares during the quarter. Capital International Investors owned approximately 0.50% of Blackstone worth $565,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new position in Blackstone during the 3rd quarter valued at $26,000. Family CFO Inc purchased a new position in Blackstone during the 4th quarter valued at $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone during the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Blackstone during the 3rd quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $115.40 on Monday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company's 50-day moving average is $119.22 and its 200 day moving average is $131.67. The company has a market capitalization of $85.73 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. 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 (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm posted $1.11 EPS. Blackstone's revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts expect that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone's dividend payout ratio is 118.67%.

Analyst Ratings Changes

A number of research analysts have issued reports on BX shares. JPMorgan Chase & Co. reduced their price objective 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. UBS Group reduced their price objective on shares of Blackstone from $171.00 to $137.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Jefferies Financial Group upped their target price on shares of Blackstone from $143.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn reduced their target price on shares of Blackstone from $138.00 to $134.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Finally, Citizens Jmp reduced their target price on shares of Blackstone from $195.00 to $190.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 22nd. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and a consensus target price of $151.05.

Trending Headlines about Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone-backed AirTrunk plans to invest $30 billion in India digital infrastructure, highlighting continued growth opportunities in Blackstone’s portfolio and exposure to AI/data-center demand. Blackstone-backed AirTrunk to invest $30B in India digital infrastructure
• Positive Sentiment: Blackstone also remains active on the capital-deployment side, with a new partnership with Nippon Life and the successful IPO of Liftoff Mobile adding to the firm’s deal-making momentum. Blackstone’s Liftoff IPO And Nippon Life Deal Reshape BX Outlook
• Positive Sentiment: The stock also appeared to rebound sharply after an earlier selloff, as some investors viewed the withdrawal cap as a sign of private-credit demand pressures rather than a direct fundamental hit to earnings. Why is Blackstone stock gaining despite a withdrawal cap on its flagship fund?
• Neutral Sentiment: Peer-related headlines from other alternative-asset managers and broader private-credit redemption concerns are adding sector-wide volatility, but they do not directly change Blackstone’s reported quarterly earnings outlook. Alternative Managers Shares Slip as Cliffwater Redemption Fears Mount
• Negative Sentiment: Blackstone’s decision to limit redemptions at Blackstone Private Credit Fund is the main overhang, as it signals heavier-than-expected withdrawal demand and raises questions about liquidity across private markets. Investors Seek to Pull 10% from Blackstone's Giant Private-Credit Fund
• Negative Sentiment: Multiple reports that redemption requests surged and that Blackstone capped withdrawals reinforced investor concern about private-credit and private-equity fund liquidity, which has weighed on BX sentiment. Redemption requests rise at Blackstone, Partners Group as private markets strain

Insider Activity at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider owned 9,111,800 shares of the company's stock, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 12,355,303 shares of company stock worth $264,789,896 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.