Redwood Wealth Management Group LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Redwood Wealth Management Group LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,810 shares of the asset manager’s stock after selling 100 shares during the period. Redwood Wealth Management Group LLC’s holdings in Blackstone were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BX. James J. Burns & Company LLC raised its stake in Blackstone by 15.4% in the 4th quarter. James J. Burns & Company LLC now owns 2,769 shares of the asset manager’s stock valued at $478,000 after purchasing an additional 369 shares during the last quarter. Mather Group LLC. increased its stake in shares of Blackstone by 1.5% in the 4th quarter. Mather Group LLC. now owns 9,319 shares of the asset manager’s stock worth $1,607,000 after acquiring an additional 140 shares during the last quarter. Commonwealth Financial Services LLC acquired a new stake in shares of Blackstone in the 4th quarter worth $212,000. Childress Capital Advisors LLC increased its stake in shares of Blackstone by 7.5% in the 4th quarter. Childress Capital Advisors LLC now owns 1,815 shares of the asset manager’s stock worth $313,000 after acquiring an additional 127 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. increased its stake in shares of Blackstone by 0.8% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 201,924 shares of the asset manager’s stock worth $34,816,000 after acquiring an additional 1,536 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $170.86 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a market capitalization of $123.36 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The stock’s 50-day simple moving average is $179.76 and its 200-day simple moving average is $162.89.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 94.77%.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays lowered their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Citigroup increased their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $172.38.

View Our Latest Research Report on BX

Blackstone Profile

(Free Report)

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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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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