VCI Wealth Management LLC Has $1.45 Million Stock Holdings in Blackstone Inc. $BX

VCI Wealth Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 16.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,700 shares of the asset manager’s stock after purchasing an additional 1,375 shares during the quarter. VCI Wealth Management LLC’s holdings in Blackstone were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Blackstone during the 1st quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new position in Blackstone during the 1st quarter worth approximately $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone during the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone during the 1st quarter worth approximately $28,000. Finally, Family CFO Inc acquired a new position in Blackstone during the 2nd quarter worth approximately $28,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 currently owned by company insiders.

Blackstone Stock Performance

BX stock opened at $160.57 on Tuesday. The firm has a market cap of $118.36 billion, a PE ratio of 43.16, a P/E/G ratio of 1.27 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $171.47 and a 200-day moving average of $155.23. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

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. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $2.49 billion during the quarter. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone’s dividend payout ratio is currently 110.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BX. JPMorgan Chase & Co. upped their price target on Blackstone from $160.00 to $177.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. HSBC increased their price objective on Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.26.

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.