CVA Family Office LLC Has $191,000 Stock Holdings in Blackstone Inc. $BX

CVA Family Office LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 19.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,280 shares of the asset manager’s stock after selling 311 shares during the quarter. CVA Family Office LLC’s holdings in Blackstone were worth $191,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its position in Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares in the last quarter. Nuveen LLC acquired a new position in Blackstone in the 1st quarter worth about $151,524,000. Amundi grew its stake in shares of Blackstone by 69.3% in the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock valued at $323,000,000 after buying an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after acquiring an additional 742,829 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of Blackstone stock opened at $154.55 on Friday. The firm has a fifty day moving average price of $170.20 and a two-hundred day moving average price of $156.02. The company has a market cap of $113.92 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. Blackstone’s payout ratio is presently 117.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Blackstone in a research note on Friday, October 3rd. They issued an “outperform” rating and a $190.00 price objective for the company. Keefe, Bruyette & Woods decreased their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Citigroup reduced their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Piper Sandler dropped their price target on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $180.26.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.