Highland Capital Management LLC lifted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 214.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,303 shares of the asset manager's stock after buying an additional 15,205 shares during the period. Highland Capital Management LLC's holdings in Blackstone were worth $3,845,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. West Financial Advisors LLC bought a new stake in Blackstone during the 3rd quarter valued at approximately $27,000. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL bought a new stake in Blackstone during the 2nd quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Insider Activity
In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm'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 value 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. This trade 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 the SEC website. Insiders own 1.00% of the company's stock.
Blackstone Trading Down 4.2 %
Blackstone stock traded down $7.73 during midday trading on Thursday, reaching $177.65. The stock had a trading volume of 3,779,482 shares, compared to its average volume of 2,958,258. 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 Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market cap of $128.26 billion, a price-to-earnings ratio of 61.35, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a fifty day moving average of $180.92 and a 200 day moving average of $161.84.
Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, analysts anticipate that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. 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 report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $175.00 to $174.00 and set a "market perform" rating for the company in a report on Monday, January 13th. UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average target price of $169.56.
Read Our Latest Research Report on Blackstone
Blackstone Company Profile
(
Free Report)
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.
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