Kavar Capital Partners Group LLC Acquires 8,823 Shares of Blackstone Inc. $BX

Key Points

• Kavar Capital Partners Group LLC increased its holdings in Blackstone Inc. by 18.7% during the 2nd quarter, acquiring an additional 8,823 shares, which now make up 1.2% of their investment portfolio.
• Blackstone recently declared a quarterly dividend of $1.03 per share, marking an increase from the previous $0.93, resulting in an annualized dividend yield of 2.3%.
• A major shareholder recently sold 16.7 million shares of Blackstone stock for over $104 million, while other insiders have been actively buying and selling shares in recent months.

Kavar Capital Partners Group LLC increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 18.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,058 shares of the asset manager's stock after buying an additional 8,823 shares during the period. Blackstone accounts for 1.2% of Kavar Capital Partners Group LLC's investment portfolio, making the stock its 22nd biggest position. Kavar Capital Partners Group LLC's holdings in Blackstone were worth $8,385,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BX. 1248 Management LLC purchased a new stake in Blackstone during the 1st quarter worth about $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Blackstone in the first quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone in the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC purchased a new position in Blackstone during the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in Blackstone in the 2nd quarter worth approximately $30,000. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction dated 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 approximately $192,234,012.49. The trade was a 51.09% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company's stock.

Blackstone Trading Up 0.4%

Shares of BX opened at $175.99 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The firm has a 50 day moving average price of $174.28 and a 200-day moving average price of $153.26. The firm has a market cap of $129.72 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.42 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same quarter last year, the company earned $0.98 EPS. The firm's revenue was up 32.7% compared to the same quarter last year. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio is 110.75%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BX. BNP Paribas Exane upped their price target on shares of Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a report on Monday. Barclays raised their price target on Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a research report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, JMP Securities raised their price objective on shares of Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.71.

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.

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