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

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its holdings in Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after acquiring an additional 6,878 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in Blackstone in the second quarter valued at approximately $273,000. Sandy Cove Advisors LLC boosted its stake in Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after acquiring an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at $423,000. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Blackstone by 14.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after purchasing an additional 1,863 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of BX stock opened at $154.55 on Friday. The company’s fifty day simple moving average is $170.20 and its 200-day simple moving average is $156.02. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $113.92 billion, a PE ratio of 44.16, a P/E/G ratio of 1.26 and a beta of 1.77.

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

Blackstone Increases Dividend

The company 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. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 117.71%.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have weighed in on BX. HSBC increased their target price on Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $166.00 price objective on shares of Blackstone and gave the stock a “buy” rating in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lifted their target price on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $180.26.

Blackstone 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.