Brian Low Financial Group LLC Has $1.67 Million Stock Position in Blackstone Inc. $BX

Brian Low Financial Group LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 64.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,529 shares of the asset manager’s stock after purchasing an additional 5,678 shares during the period. Blackstone makes up approximately 1.1% of Brian Low Financial Group LLC’s investment portfolio, making the stock its 23rd largest holding. Brian Low Financial Group LLC’s holdings in Blackstone were worth $1,671,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Strive Asset Management LLC acquired a new position in shares of Blackstone during the 3rd quarter worth about $30,000. Family CFO Inc bought a new position in Blackstone during the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone in the fourth quarter worth $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Blackstone during the third quarter worth $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired a total of 10,252,345 shares of company stock valued at $209,789,893 in the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen lowered their price objective on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Citizens Jmp lowered their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Morgan Stanley cut their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Rothschild & Co Redburn lowered their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Finally, Oppenheimer lifted their price target on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Blackstone Stock Performance

Shares of Blackstone stock opened at $112.90 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $83.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.59. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock’s 50-day moving average is $121.16 and its 200-day moving average is $129.59.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm earned $1.11 EPS. Blackstone’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.