BCS Wealth Management Invests $225,000 in Blackstone Inc. (NYSE:BX)

BCS Wealth Management acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,470 shares of the asset manager’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wulff Hansen & CO. grew its holdings in Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the period. Capital World Investors lifted its holdings in shares of Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Blackstone by 19,048.1% during the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after buying an additional 1,873,573 shares during the last quarter. Vanguard Group Inc. increased its holdings in Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after buying an additional 937,084 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other 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 owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of the 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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This 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 insiders.

Blackstone Stock Up 0.0 %

Shares of NYSE:BX opened at $169.80 on Friday. The company has a market cap of $121.35 billion, a price-to-earnings ratio of 59.98, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $172.25. The firm has a fifty day moving average price of $146.19 and a two-hundred day moving average price of $132.93. 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 released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the business earned $0.93 EPS. The business’s revenue was up 166.9% on a year-over-year basis. Analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BX shares. Barclays raised their price target on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their target price on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $137.47.

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.