Blackstone Inc. (NYSE:BX) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 112.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,043 shares of the asset manager's stock after acquiring an additional 10,621 shares during the period. Brookstone Capital Management's holdings in Blackstone were worth $2,802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after buying an additional 2,035 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Blackstone by 6.4% during the fourth quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock worth $7,180,000 after acquiring an additional 2,494 shares during the period. Dana Investment Advisors Inc. acquired a new position in shares of Blackstone during the fourth quarter worth about $532,000. Vestmark Advisory Solutions Inc. acquired a new position in Blackstone during the 4th quarter worth approximately $326,000. Finally, E Fund Management Co. Ltd. acquired a new position in Blackstone during the 4th quarter worth approximately $302,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BX shares. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Barclays upped their target price on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Bank of America lowered their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Citizens Jmp upgraded 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. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $156.65.

Blackstone Trading Up 1.0%

Shares of BX stock traded up $1.57 during mid-day trading on Friday, hitting $155.13. 2,048,009 shares of the company's stock were exchanged, compared to its average volume of 3,857,888. The stock has a 50-day simple moving average of $141.20 and a two-hundred day simple moving average of $151.28. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock has a market cap of $113.19 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 1.43 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) 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 analyst estimates 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 prior year, the business posted $0.98 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.

Insider Activity

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The shares were purchased 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 directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, the insider owned 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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.