Gateway Investment Advisers LLC Has $1.83 Million Position in Blackstone Inc. (NYSE:BX)

Gateway Investment Advisers LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 29.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,602 shares of the asset manager’s stock after selling 4,400 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Blackstone were worth $1,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of Blackstone by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after purchasing an additional 2,002 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Blackstone by 12.8% in the 2nd 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 during the period. Wealth Alliance lifted its stake in shares of Blackstone by 6.2% in the 2nd quarter. Wealth Alliance now owns 2,642 shares of the asset manager’s stock valued at $327,000 after purchasing an additional 155 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Blackstone by 7.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 84,898 shares of the asset manager’s stock valued at $10,258,000 after purchasing an additional 5,962 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Blackstone by 54.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,528 shares of the asset manager’s stock valued at $1,922,000 after purchasing an additional 5,503 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays dropped their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.56.

Insiders Place Their Bets

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

Blackstone Price Performance

Blackstone stock opened at $180.00 on Friday. Blackstone Inc. has a 12 month low of $115.63 and a 12 month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $180.68 and its 200 day simple moving average is $157.84. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Sell-side analysts forecast that Blackstone Inc. will post 4.45 EPS for the current year.

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.