Blackstone Inc. (NYSE:BX) Shares Bought by Zhang Financial LLC

Zhang Financial LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,567 shares of the asset manager’s stock after purchasing an additional 171 shares during the quarter. Zhang Financial LLC’s holdings in Blackstone were worth $1,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC acquired a new position in Blackstone during the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC raised its holdings in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup increased their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays decreased their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Up 1.9 %

NYSE BX opened at $180.00 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The stock 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. The stock has a fifty day moving average of $180.73 and a 200-day moving average of $158.49.

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, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, equities research analysts forecast that Blackstone Inc. will post 4.45 EPS for the current year.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company 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.