Partners Group Holding AG Has $51.49 Million Position in Blackstone Inc. $BX

Key Points

• Partners Group Holding AG increased its Blackstone stake by 6.1% in the fourth quarter, owning 334,073 shares worth about $51.5 million at the end of the period. Blackstone is now its 8th largest position and makes up roughly 3.5% of its portfolio.
• Blackstone’s latest earnings topped expectations, with quarterly EPS of $1.36 versus the $1.34 consensus, while revenue rose 10% year over year to $3.43 billion. Analysts still expect full-year EPS of 5.89.
• The company also highlighted a major AI infrastructure push, including a joint venture with Google to build a new TPU-focused cloud company, with reports saying Blackstone may invest $5 billion in equity. Separately, Blackstone recently paid a quarterly dividend of $1.16 per share, implying a 4.1% annualized yield.

Partners Group Holding AG grew its position in Blackstone Inc. (NYSE:BX - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 334,073 shares of the asset manager's stock after acquiring an additional 19,352 shares during the period. Blackstone accounts for approximately 3.5% of Partners Group Holding AG's investment portfolio, making the stock its 8th biggest position. Partners Group Holding AG's holdings in Blackstone were worth $51,494,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. REAP Financial Group LLC bought a new position in shares of Blackstone in the 3rd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter valued at $30,000. Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at $30,000. Family CFO Inc acquired a new stake in Blackstone in the fourth quarter valued at $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in Blackstone in the fourth quarter valued at $28,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other news, 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 transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the business's stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 13,502,092 shares of company stock worth $294,789,896 and have sold 9,128,660 shares worth $46,457,920. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Barclays decreased their price objective on Blackstone from $126.00 to $124.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on Blackstone from $156.00 to $146.00 and set a "buy" rating for the company in a report on Friday, April 24th. HSBC decreased their price objective on Blackstone from $164.00 to $131.00 and set a "hold" rating for the company in a report on Friday, April 10th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $142.00 to $136.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Finally, UBS Group decreased their price objective on Blackstone from $171.00 to $137.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus target price of $151.05.

Blackstone Stock Performance

Shares of Blackstone stock opened at $114.31 on Wednesday. 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 business has a 50-day moving average price of $117.21 and a two-hundred day moving average price of $134.14. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a market cap of $84.92 billion, a P/E ratio of 29.24, a PEG ratio of 1.28 and a beta of 1.63.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business posted $1.11 EPS. The business's revenue was up 10.0% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 5.89 EPS for the current 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 given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone's dividend payout ratio is 118.67%.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and Google announced a joint venture to build a new AI cloud company centered on Google’s Tensor Processing Units, giving Blackstone exposure to a fast-growing AI infrastructure market. Blackstone Announces Joint Venture with Google to Create New TPU Cloud
• Positive Sentiment: Reports say Blackstone is committing $5 billion in equity to the venture, which may be viewed as a significant long-term investment in AI compute capacity and a potential new growth driver. Blackstone and Google form AI infrastructure joint venture focused on TPU cloud expansion
• Positive Sentiment: Market commentary said the Blackstone-Google deal is pressuring smaller cloud infrastructure names, suggesting investors may see Blackstone as better positioned than leveraged AI infrastructure competitors. Google and Blackstone to Create New AI Cloud Company. The Stocks Are Rising.
• Neutral Sentiment: TD Cowen lowered its price target on Blackstone to $133 from $140, but kept a Buy rating, which points to continued upside expectations despite the trim.
• Neutral Sentiment: Blackstone also abandoned its pursuit of the €2.5 billion Stroeer deal, a separate M&A item that does not appear central to the stock’s immediate move.
• Neutral Sentiment: A major shareholder, Treasury Holdings I. Blackstone, disclosed a large share purchase, which can be read as a confidence signal but is less likely to move the stock by itself.

About Blackstone

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.

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