Blackstone Inc. (NYSE:BX) Position Lowered by Sanders Morris Harris LLC

Sanders Morris Harris LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 509,759 shares of the asset manager’s stock after selling 7,669 shares during the period. Blackstone accounts for approximately 13.2% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 2nd biggest holding. Sanders Morris Harris LLC owned approximately 0.07% of Blackstone worth $88,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone during the 4th quarter worth approximately $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Up 0.4 %

Shares of NYSE BX opened at $175.91 on Thursday. The firm has a market cap of $127.01 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 1.02 and a beta of 1.53. The stock’s 50-day simple moving average is $180.70 and its 200-day simple moving average is $157.59. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

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 the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities analysts anticipate that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

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.