Brookwood Investment Group LLC Grows Stock Position in Blackstone Inc. $BX

Brookwood Investment Group LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 75.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,328 shares of the asset manager’s stock after purchasing an additional 1,426 shares during the quarter. Brookwood Investment Group LLC’s holdings in Blackstone were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. 1248 Management LLC purchased a new stake in shares of Blackstone during the 1st quarter valued at about $25,000. von Borstel & Associates Inc. purchased a new stake in Blackstone in the 1st quarter worth approximately $28,000. Wealth Preservation Advisors LLC purchased a new stake in Blackstone in the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new stake in Blackstone in the 1st quarter worth approximately $28,000. Finally, Family CFO Inc purchased a new stake in Blackstone in the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $166.00 target price on shares of Blackstone and gave the stock a “buy” rating in a report on Friday. TD Cowen cut their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley increased their price objective on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. The Goldman Sachs Group increased their price objective on shares of Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group cut their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.26.

Insider Buying and Selling

In related 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 stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.6%

NYSE BX opened at $153.70 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. The company has a market capitalization of $113.29 billion, a P/E ratio of 43.91, a P/E/G ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The stock has a 50 day moving average price of $169.89 and a 200-day moving average price of $156.26.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio is 147.43%.

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.