CNB Bank Has $710,000 Stock Position in Blackstone Inc. $BX

CNB Bank raised its position in Blackstone Inc. (NYSE:BX) by 14,278.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,745 shares of the asset manager’s stock after buying an additional 4,712 shares during the period. CNB Bank’s holdings in Blackstone were worth $710,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arcus Capital Partners LLC raised its stake in Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after acquiring an additional 58 shares during the period. Mattern Wealth Management LLC raised its stake in Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after acquiring an additional 60 shares during the period. Sage Rhino Capital LLC raised its stake in Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after acquiring an additional 63 shares during the period. Jeppson Wealth Management LLC raised its stake in Blackstone by 1.0% during the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after acquiring an additional 66 shares during the period. Finally, McAdam LLC raised its stake in Blackstone by 4.4% during the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after acquiring an additional 75 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the sale, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Bank of America reduced their price objective on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Barclays reduced their price objective on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $180.84.

Blackstone Trading Down 0.3%

BX stock opened at $154.55 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm 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 firm has a fifty day moving average price of $170.20 and a 200 day moving average price of $155.77.

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 firm had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. 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 dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s payout ratio is presently 117.71%.

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.