Redwood Financial Network Corp Has $607,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Redwood Financial Network Corp lowered its position in Blackstone Inc. (NYSE:BX) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,523 shares of the asset manager’s stock after selling 88 shares during the period. Redwood Financial Network Corp’s holdings in Blackstone were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management increased its stake in Blackstone by 57.2% during the 4th quarter. Brookstone Capital Management now owns 9,422 shares of the asset manager’s stock valued at $1,625,000 after purchasing an additional 3,428 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Blackstone by 57.8% during the fourth quarter. AdvisorNet Financial Inc now owns 12,694 shares of the asset manager’s stock valued at $2,189,000 after buying an additional 4,648 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of Blackstone by 2.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 2,576 shares of the asset manager’s stock worth $444,000 after acquiring an additional 66 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Blackstone by 22.1% in the 4th quarter. Rosenberg Matthew Hamilton now owns 469 shares of the asset manager’s stock valued at $81,000 after acquiring an additional 85 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in Blackstone by 29.5% during the 4th quarter. Accurate Wealth Management LLC now owns 6,489 shares of the asset manager’s stock worth $1,070,000 after purchasing an additional 1,478 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now directly owns 475,336 shares of the company’s stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,660,538 shares of company stock worth $24,981,930. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BX shares. TD Cowen cut their price objective on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays upped their price objective on shares of Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $154.82.

Blackstone Stock Down 0.0%

NYSE BX opened at $148.55 on Thursday. The business’s 50-day moving average is $136.93 and its 200 day moving average is $161.87. The stock has a market capitalization of $108.39 billion, a PE ratio of 40.92, a PEG ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the business earned $0.98 EPS. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.50%. Blackstone’s dividend payout ratio is presently 112.05%.

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.