HB Wealth Management LLC Has $4.42 Million Position in Blackstone Inc. (NYSE:BX)

HB Wealth Management LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,646 shares of the asset manager’s stock after selling 293 shares during the period. HB Wealth Management LLC’s holdings in Blackstone were worth $4,422,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. grew its stake 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 acquiring an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays decreased their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $169.56.

Insider Transactions at Blackstone

In related 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was 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 accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

Shares of BX opened at $180.00 on Friday. The firm has a market cap of $129.96 billion, a P/E ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week 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. The business has a 50-day moving average of $180.73 and a 200 day moving average of $158.24.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, research 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.