Relyea Zuckerberg Hanson LLC Buys 170 Shares of Blackstone Inc. (NYSE:BX)

Relyea Zuckerberg Hanson LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,088 shares of the asset manager’s stock after buying an additional 170 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Blackstone were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. American Century Companies Inc. boosted its position in shares of Blackstone by 3.5% during the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after acquiring an additional 2,002 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Blackstone by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,254,342 shares of the asset manager’s stock valued at $155,288,000 after purchasing an additional 142,026 shares in the last quarter. Wealth Alliance raised its holdings in shares of Blackstone by 6.2% in the 2nd quarter. Wealth Alliance now owns 2,642 shares of the asset manager’s stock worth $327,000 after buying an additional 155 shares in the last quarter. Meiji Yasuda Life Insurance Co acquired a new stake in Blackstone in the 2nd quarter valued at $202,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in Blackstone by 7.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 84,898 shares of the asset manager’s stock worth $10,258,000 after acquiring an additional 5,962 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BX shares. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Wells Fargo & Company reduced their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets raised their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $169.56.

Blackstone Trading Up 1.4 %

NYSE:BX traded up $2.45 during trading hours on Friday, hitting $179.17. The stock had a trading volume of 629,885 shares, compared to its average volume of 2,663,487. The business’s 50 day moving average is $180.67 and its 200-day moving average is $157.71. The company has a market cap of $129.36 billion, a price-to-earnings ratio of 61.66, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a one year low of $115.63 and a one 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 posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

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.