CV Advisors LLC Makes New $982,000 Investment in Blackstone Inc. $BX

CV Advisors LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,749 shares of the asset manager’s stock, valued at approximately $982,000. Blackstone accounts for about 0.3% of CV Advisors LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds have also recently added to or reduced their stakes in BX. Brighton Jones LLC lifted its holdings in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. Aprio Wealth Management LLC raised its position in shares of Blackstone by 11.6% during the 1st quarter. Aprio Wealth Management LLC now owns 2,814 shares of the asset manager’s stock worth $393,000 after buying an additional 293 shares in the last quarter. Amundi boosted its holdings in shares of Blackstone by 69.3% in the first quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock valued at $323,000,000 after acquiring an additional 990,947 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Blackstone during the first quarter valued at approximately $36,872,000. Finally, AlTi Global Inc. lifted its position in Blackstone by 161.5% in the first quarter. AlTi Global Inc. now owns 3,104 shares of the asset manager’s stock worth $434,000 after purchasing an additional 1,917 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup dropped their price objective on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. The Goldman Sachs Group upped their price target on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. BMO Capital Markets lowered their price objective on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Finally, Barclays upped their price target on Blackstone from $165.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, December 12th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.95.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ruth Porat acquired 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the acquisition, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This represents a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 797,148 shares of company stock worth $24,050,153 over the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.4%

BX stock opened at $154.20 on Friday. The company’s 50 day simple moving average is $148.62 and its 200-day simple moving average is $159.98. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $190.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $113.87 billion, a P/E ratio of 44.06, a P/E/G ratio of 1.31 and a beta of 1.75.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.3%. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Blackstone Company 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.