Park Avenue Securities LLC Increases Stake in Blackstone Inc. (NYSE:BX)

Park Avenue Securities LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 115.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,115 shares of the asset manager’s stock after acquiring an additional 16,127 shares during the period. Park Avenue Securities LLC’s holdings in Blackstone were worth $5,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of BX. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the 3rd quarter worth $27,000. Kieckhefer Group LLC purchased a new position in Blackstone in the fourth quarter valued at $39,000. Raleigh Capital Management Inc. raised 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 buying an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BX shares. The Goldman Sachs Group boosted their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft raised 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 upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of BX opened at $175.12 on Thursday. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The stock has a market capitalization of $126.44 billion, a P/E ratio of 60.18, a P/E/G ratio of 1.63 and a beta of 1.53. 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 fifty day moving average is $180.70 and its two-hundred day moving average is $157.59.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (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 firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, sell-side analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current year.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.