Blackstone Inc. (NYSE:BX) Shares Purchased by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. raised its stake in shares of Blackstone Inc. (NYSE:BX) by 30.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,551 shares of the asset manager’s stock after acquiring an additional 835 shares during the period. Elmwood Wealth Management Inc.’s holdings in Blackstone were worth $496,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Private Trust Co. NA grew its position in Blackstone by 16.2% in the 1st quarter. Private Trust Co. NA now owns 12,988 shares of the asset manager’s stock valued at $1,816,000 after acquiring an additional 1,815 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in Blackstone by 1.5% during the 1st quarter. Pinnacle Financial Partners Inc now owns 40,057 shares of the asset manager’s stock worth $5,665,000 after buying an additional 582 shares during the period. Fiduciary Group LLC boosted its position in Blackstone by 1.3% in the 1st quarter. Fiduciary Group LLC now owns 44,968 shares of the asset manager’s stock valued at $6,286,000 after buying an additional 576 shares during the period. Kanawha Capital Management LLC purchased a new stake in shares of Blackstone during the first quarter worth $226,000. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Blackstone by 6.9% in the first quarter. Aaron Wealth Advisors LLC now owns 2,320 shares of the asset manager’s stock valued at $324,000 after acquiring an additional 150 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the topic of a number of analyst reports. Citigroup reduced their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley cut their target price on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. TD Cowen dropped their price target on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. JMP Securities restated a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. Finally, Cowen reiterated a “buy” rating on shares of Blackstone in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $156.65.

Blackstone Stock Performance

NYSE:BX opened at $153.55 on Thursday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The firm has a market capitalization of $112.04 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.40 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $140.34 and its 200 day simple moving average is $151.85.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same period in the previous year, the company earned $0.98 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is 112.05%.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider owned 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider owned 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.