Sax Wealth Advisors LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Sax Wealth Advisors LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,041 shares of the asset manager’s stock after selling 171 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Blackstone were worth $1,042,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Blackstone by 213.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after buying an additional 937,084 shares during the period. Mackenzie Financial Corp increased its stake in shares of Blackstone by 468.4% during the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after buying an additional 912,685 shares during the period. Castleark Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after buying an additional 395,011 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX stock opened at $180.00 on Friday. The stock has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The stock’s fifty day simple moving average is $180.68 and its 200-day simple moving average is $157.84. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts expect that Blackstone Inc. will post 4.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on BX shares. JPMorgan Chase & Co. upped their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays cut their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Insider Activity at Blackstone

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

Blackstone 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.