Ellsworth Advisors LLC Sells 73 Shares of Blackstone Inc. (NYSE:BX)

Ellsworth Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,137 shares of the asset manager’s stock after selling 73 shares during the quarter. Blackstone accounts for approximately 1.7% of Ellsworth Advisors LLC’s portfolio, making the stock its 12th largest holding. Ellsworth Advisors LLC’s holdings in Blackstone were worth $6,452,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont increased its position in shares of Blackstone by 3.1% in the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 67 shares during the period. CVA Family Office LLC raised its position in Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 73 shares during the last quarter. Moseley Investment Management Inc. grew its position in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares during the period. Finally, Signaturefd LLC lifted its stake in Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BX. Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Bank of America raised their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. UBS Group increased their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $137.47.

Blackstone Trading Up 6.3 %

Shares of NYSE:BX opened at $169.73 on Friday. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $172.25. The stock’s fifty day moving average price is $146.19 and its 200-day moving average price is $132.93. 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 company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for 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 business’s revenue was up 166.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. Sell-side analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

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

About Blackstone

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.