Elmwood Wealth Management Inc. Has $547,000 Stake in Blackstone Inc. $BX

Elmwood Wealth Management Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,655 shares of the asset manager’s stock after acquiring an additional 104 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Blackstone were worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BX. 1248 Management LLC acquired a new position in Blackstone during the first quarter worth about $25,000. von Borstel & Associates Inc. acquired a new position in shares of Blackstone in the first quarter valued at approximately $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone in the first quarter valued at approximately $28,000. Anderson Financial Strategies LLC acquired a new position in shares of Blackstone in the first quarter valued at approximately $28,000. Finally, Family CFO Inc acquired a new position in shares of Blackstone in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the acquisition, the insider directly owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Blackstone stock opened at $158.13 on Tuesday. The stock has a market capitalization of $116.56 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 1.25 and a beta of 1.77. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock’s 50 day moving average price is $172.29 and its two-hundred day moving average price is $154.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio (DPR) is currently 110.75%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price objective on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. BMO Capital Markets started coverage on shares of Blackstone in a research report on Friday, October 3rd. They set an “outperform” rating and a $190.00 target price for the company. Keefe, Bruyette & Woods decreased their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday. Finally, BNP Paribas Exane increased their target price on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.06.

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.