Gateway Investment Advisers LLC Has $1.83 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Gateway Investment Advisers LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 29.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,602 shares of the asset manager’s stock after selling 4,400 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Blackstone were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. West Financial Advisors LLC bought a new stake in shares of Blackstone in the third quarter worth about $27,000. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Blackstone in the second quarter worth about $39,000. Raleigh Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Blackstone during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BX shares. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Barclays decreased their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $169.56.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

Shares of BX opened at $180.00 on Friday. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96. The business’s fifty day moving average is $180.68 and its 200-day moving average is $157.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53.

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