Brandywine Oak Private Wealth LLC Has $1.97 Million Stake in Blackstone Inc. $BX

Brandywine Oak Private Wealth LLC raised its stake in Blackstone Inc. (NYSE:BX) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,194 shares of the asset manager’s stock after buying an additional 274 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Blackstone were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of Blackstone during the first quarter worth about $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Blackstone during the first quarter worth about $28,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Blackstone during the first quarter worth about $28,000. Anderson Financial Strategies LLC acquired a new stake in shares of Blackstone during the first quarter worth about $28,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone during the second quarter worth about $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BX. Wells Fargo & Company increased their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a report on Thursday. Bank of America decreased their price objective on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. TD Cowen decreased their price objective on Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their price objective on Blackstone from $181.00 to $173.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Blackstone Stock Down 1.2%

BX stock opened at $160.52 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The business has a 50 day moving average price of $172.86 and a two-hundred day moving average price of $154.15. The company has a market cap of $118.32 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 1.32 and a beta of 1.77.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is presently 110.75%.

Insider Activity at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

About Blackstone

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.