Stonegate Investment Group LLC cut its stake in Blackstone Inc. (NYSE:BX - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,367 shares of the asset manager's stock after selling 1,491 shares during the quarter. Stonegate Investment Group LLC's holdings in Blackstone were worth $3,167,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of BX. Bangor Savings Bank boosted its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at approximately $27,000. Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter valued at $34,000. Kieckhefer Group LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $39,000. Finally, Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after buying an additional 62 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, November 11th. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Cowen reiterated a "hold" rating on shares of Blackstone in a research note on Friday, October 18th. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $171.13.
Get Our Latest Research Report on Blackstone
Insider Buying and Selling
In related news, insider John G. Finley sold 42,249 shares of the business's 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by company insiders.
Blackstone Trading Down 0.5 %
NYSE:BX traded down $0.86 during midday trading on Friday, hitting $176.92. The stock had a trading volume of 2,075,859 shares, compared to its average volume of 3,007,140. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a market capitalization of $127.74 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 1.24 and a beta of 1.53. The stock has a 50-day moving average of $180.59 and a 200 day moving average of $161.95. 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 - Get Free Report) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.41 EPS for the current year.
Blackstone Profile
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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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