RDA Financial Network Has $1.73 Million Stake in Blackstone Inc. (NYSE:BX)

RDA Financial Network trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,024 shares of the asset manager’s stock after selling 899 shares during the quarter. RDA Financial Network’s holdings in Blackstone were worth $1,728,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Sather Financial Group Inc grew its position in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC bought a new position in Blackstone during the 3rd quarter worth $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC increased its position in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares during the period. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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 completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BX. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lowered their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday. Piper Sandler raised their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Performance

NYSE BX opened at $176.68 on Friday. The company has a market capitalization of $127.56 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The stock has a fifty day simple moving average of $180.67 and a 200 day simple moving average of $157.71. 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 (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Sell-side analysts expect that Blackstone Inc. will post 4.45 EPS for the current year.

Blackstone Company 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.