Elmwood Wealth Management Inc. Makes New $468,000 Investment in Blackstone Inc. (NYSE:BX)

Elmwood Wealth Management Inc. acquired a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,716 shares of the asset manager’s stock, valued at approximately $468,000.

Several other hedge funds have also added to or reduced their stakes in BX. Sather Financial Group Inc boosted its stake in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Blackstone during the 3rd quarter worth about $201,000. Aljian Capital Management LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $1,951,000. Icon Wealth Advisors LLC grew its stake in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 0.1 %

Shares of BX stock traded up $0.21 during midday trading on Monday, reaching $165.06. 2,316,105 shares of the stock were exchanged, compared to its average volume of 2,638,068. The firm has a market cap of $119.17 billion, a PE ratio of 56.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $180.73 and its two-hundred day moving average is $156.98. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities research analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $170.50.

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.