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

Naviter Wealth LLC lifted its position in Blackstone Inc. (NYSE:BX) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,379 shares of the asset manager’s stock after acquiring an additional 376 shares during the period. Naviter Wealth LLC’s holdings in Blackstone were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in shares of Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone in the 2nd quarter worth approximately $27,000. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $27,000. Finally, Bank & Trust Co purchased a new position in Blackstone during the second quarter worth approximately $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays raised their price target on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America upped their price objective on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.47.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of BX stock opened at $169.73 on Friday. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $172.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market cap of $121.30 billion, a P/E ratio of 59.98, a PEG ratio of 1.24 and a beta of 1.51. The firm has a fifty day moving average price of $146.19 and a 200 day moving average price of $132.93.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Sell-side analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current fiscal 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.