Hennion & Walsh Asset Management Inc. Has $3.68 Million Stake in Blackstone Inc. (NYSE:BX)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,351 shares of the asset manager’s stock after selling 265 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Blackstone were worth $3,681,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. West Financial Advisors LLC bought a new stake in Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Blackstone during the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 0.9 %

NYSE:BX opened at $176.68 on Friday. The firm has a market capitalization of $127.56 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The stock’s 50 day moving average price is $180.67 and its two-hundred day moving average price is $157.71.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on BX shares. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average 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.