Brookwood Investment Group LLC Invests $266,000 in Blackstone Inc. (NYSE:BX)

Key Points

• Brookwood Investment Group LLC has acquired 1,902 shares of Blackstone Inc., valued at approximately $266,000, marking a new position in the firm in the 1st quarter.
• Blackstone recently declared a quarterly dividend of $1.03 per share, which is an increase from the previous dividend of $0.93, reflecting a 2.32% dividend yield.
• Recent quarterly earnings showed Blackstone surpassing estimates with an earnings per share (EPS) of $1.21, up from $0.98 in the previous year, indicating a notable revenue growth of 32.7% year-over-year.

Brookwood Investment Group LLC purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,902 shares of the asset manager's stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in shares of Blackstone during the first quarter worth about $28,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Blackstone during the fourth quarter worth about $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone during the fourth quarter worth about $34,000. Finally, Garde Capital Inc. acquired a new position in Blackstone during the first quarter worth about $36,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 0.2%

Shares of Blackstone stock traded down $0.39 during trading hours on Tuesday, hitting $176.55. The company's stock had a trading volume of 734,395 shares, compared to its average volume of 4,289,706. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business has a fifty day moving average of $149.73 and a 200 day moving average of $150.43. The company has a market capitalization of $128.82 billion, a PE ratio of 47.44, a P/E/G ratio of 1.55 and a beta of 1.65. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business's revenue was up 32.7% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, August 4th. Blackstone's dividend payout ratio (DPR) is presently 100.00%.

Insider Activity at Blackstone

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the firm's stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the acquisition, the insider owned 4,178,771 shares in the company, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,849,769 shares of company stock valued at $54,932,307 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on BX. Evercore ISI upped their target price on shares of Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a research report on Friday. Piper Sandler upped their price target on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. TD Cowen reduced their price objective 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. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $170.12.

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.