Shikiar Asset Management Inc. Reduces Stock Position in Blackstone Inc. $BX

Key Points

• Shikiar Asset Management cut its stake in Blackstone by 67.8% in Q4, selling 17,974 shares and leaving it with 8,550 shares worth $1.318 million.
• Major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares at an average $26.15 on March 20 (~$75M), increasing its position to 18,628,295 shares (an 18.2% rise).
• Blackstone beat Q earnings (EPS $1.75 vs. $1.54; revenue +41.4% YoY), raised its quarterly dividend to $1.49 (annualized $5.96, 5.1% yield), while analysts have trimmed targets leaving a consensus "Hold" with an average target of $159.43.

Shikiar Asset Management Inc. cut its stake in Blackstone Inc. (NYSE:BX - Free Report) by 67.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,550 shares of the asset manager's stock after selling 17,974 shares during the period. Shikiar Asset Management Inc.'s holdings in Blackstone were worth $1,318,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jain Global LLC acquired a new stake in Blackstone during the third quarter worth approximately $9,116,000. Fayez Sarofim & Co boosted its position in Blackstone by 1.9% during the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager's stock worth $217,083,000 after acquiring an additional 24,237 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Blackstone by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager's stock valued at $143,582,000 after purchasing an additional 142,479 shares during the last quarter. Close Asset Management Ltd boosted its holdings in shares of 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 purchasing an additional 1,133,197 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of Blackstone by 2.1% in the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager's stock valued at $58,337,000 after purchasing an additional 7,053 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the purchase, the insider directly owned 18,628,295 shares of the company's stock, valued at approximately $487,129,914.25. This represents a 18.20% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of Blackstone stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares in the company, valued at $90,670.32. This trade represents a 99.66% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. BMO Capital Markets decreased their price target on shares of Blackstone from $165.00 to $126.00 and set an "outperform" rating on the stock in a report on Tuesday, March 24th. Argus decreased their price target on shares of Blackstone from $195.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. The Goldman Sachs Group decreased their price target on shares of Blackstone from $158.00 to $118.00 and set a "neutral" rating on the stock in a report on Monday. Piper Sandler decreased their price target on shares of Blackstone from $158.00 to $122.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, HSBC decreased their price target on shares of Blackstone from $178.00 to $174.00 and set a "hold" rating on the stock in a report on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $159.43.

Blackstone Stock Performance

Shares of BX stock opened at $117.61 on Thursday. The company's fifty day simple moving average is $118.82 and its 200-day simple moving average is $142.24. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The company has a market cap of $87.29 billion, a PE ratio of 30.31, a P/E/G ratio of 0.90 and a beta of 1.74.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the firm posted $1.69 EPS. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were paid a dividend of $1.49 per share. This is a positive change from Blackstone's previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.1%. Blackstone's payout ratio is presently 153.61%.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone closed its flagship opportunistic credit fund (COF V) at over $10 billion, hitting the hard cap — an oversubscribed close that supports fee-related revenue, AUM growth and validates demand for BX’s credit strategies. Blackstone Closes Flagship Opportunistic Credit Fund at Over $10B
• Positive Sentiment: Blackstone sold a roughly $723 million stake in Legence to strong demand — a successful partial exit that crystallizes value, boosts realizations and can fund distributions or redeployments. Legence draws strong demand as Blackstone sells $723M stake
• Positive Sentiment: Blackstone is part of a consortium that agreed to buy UK aerospace supplier Senior Plc — deal activity supports BX’s deployment track record and potential future fee capture. Senior Plc agrees to Tinicum-Blackstone offer
• Neutral Sentiment: Jefferies trimmed its price target (to $143) but kept a buy rating — still shows upside in some analysts’ models despite a lower target. Jefferies adjusts price target on Blackstone
• Neutral Sentiment: Barclays trimmed its target slightly to $124 and kept an equal-weight rating — modestly lower expectations but no rating downgrade. Barclays adjusts price target on Blackstone
• Negative Sentiment: Piper Sandler cut its price target to $122 and moved to a neutral/hold posture on BX — another sell-side downward revision that pressures sentiment. Piper Sandler Lowers Blackstone Price Target
• Negative Sentiment: Goldman Sachs lowered its price target to $118 — a direct bearish signal from a major bank that likely contributed to near-term selling pressure. Goldman Sachs Lowers Blackstone Price Target

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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