Blackstone Inc. (NYSE:BX) Shares Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 69.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,345 shares of the asset manager’s stock after acquiring an additional 9,195 shares during the quarter. Diversify Wealth Management LLC’s holdings in Blackstone were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after acquiring an additional 937,084 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Blackstone by 468.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after acquiring an additional 912,685 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Blackstone by 7,917.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after purchasing an additional 395,011 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Blackstone Price Performance

Shares of NYSE BX opened at $180.00 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. The stock has a fifty day moving average price of $180.73 and a 200 day moving average price of $158.49. Blackstone Inc. has a 1-year low of $115.63 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly 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. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Sell-side analysts forecast that Blackstone Inc. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $169.56.

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.