Sanibel Captiva Trust Company Inc. Buys 1,082 Shares of Blackstone Inc. (NYSE:BX)

Sanibel Captiva Trust Company Inc. raised its stake in Blackstone Inc. (NYSE:BX) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,065 shares of the asset manager’s stock after acquiring an additional 1,082 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Blackstone were worth $6,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BX. Glen Eagle Advisors LLC lifted its holdings in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its holdings in shares of Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $180.00 on Friday. The company has a market capitalization 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 52 week low of $115.63 and a 52 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 company’s 50 day moving average price is $180.68 and its two-hundred day moving average price is $157.84.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BX. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction 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 in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Company 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.