Blackstone Inc. (NYSE:BX) Shares Sold by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC decreased its position in Blackstone Inc. (NYSE:BX) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,810 shares of the asset manager’s stock after selling 100 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Blackstone were worth $484,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. International Assets Investment Management LLC lifted its position in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Blackstone by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after buying an additional 116,367 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Evercore ISI increased their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $172.38.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $170.86 on Wednesday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The business has a 50 day moving average price of $179.76 and a two-hundred day moving average price of $162.89. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $123.36 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.37%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

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.