Brookstone Capital Management Buys 2,417 Shares of Blackstone Inc. (NYSE:BX)

Brookstone Capital Management increased its stake in shares of Blackstone Inc. (NYSE:BX) by 40.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,332 shares of the asset manager’s stock after acquiring an additional 2,417 shares during the quarter. Brookstone Capital Management’s holdings in Blackstone were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Financial Advisors bought a new position in Blackstone during the 4th quarter worth approximately $25,000. Bourgeon Capital Management LLC grew its position in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Blackstone in the 4th quarter worth approximately $30,000. Advantage Trust Co bought a new stake in shares of Blackstone in the 4th quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 219 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 0.3 %

BX stock opened at $123.80 on Friday. The stock has a market capitalization of $88.47 billion, a P/E ratio of 43.75, a P/E/G ratio of 1.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $133.56. The business has a fifty day moving average price of $122.37 and a 200-day moving average price of $124.50.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Equities analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.68%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is presently 117.31%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Argus lifted their price target on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler dropped their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Morgan Stanley lifted their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Barclays restated an “equal weight” rating and set a $125.00 price target (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $123.65.

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.