Guardian Investment Management Purchases New Holdings in Blackstone Inc. (NYSE:BX)

Guardian Investment Management acquired a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,215 shares of the asset manager’s stock, valued at approximately $24,003,000. Blackstone accounts for about 16.6% of Guardian Investment Management’s investment portfolio, making the stock its 2nd biggest position.

Several other institutional investors and hedge funds have also modified their holdings of BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth $27,000. Bangor Savings Bank increased its position in shares of 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 acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone during the 2nd quarter worth $39,000. Raleigh Capital Management Inc. lifted 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 acquiring an additional 62 shares during the period. Finally, Kieckhefer Group LLC bought a new position in Blackstone during the fourth quarter valued at about $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several recent research reports. BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Price Performance

BX stock opened at $180.00 on Monday. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $180.73 and a two-hundred day moving average of $158.49. The stock has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

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 the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. As a group, research analysts anticipate that Blackstone Inc. will post 4.45 earnings per share for the current year.

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.