Householder Group Estate & Retirement Specialist LLC Sells 404 Shares of Blackstone Inc. (NYSE:BX)

Householder Group Estate & Retirement Specialist LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 35.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 745 shares of the asset manager’s stock after selling 404 shares during the quarter. Householder Group Estate & Retirement Specialist LLC’s holdings in Blackstone were worth $128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC boosted its stake in Blackstone by 5.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,088 shares of the asset manager’s stock valued at $532,000 after purchasing an additional 170 shares during the last quarter. Avanza Fonder AB purchased a new position in Blackstone during the 4th quarter worth $9,005,000. Wealthcare Advisory Partners LLC lifted its position in shares of Blackstone by 3.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 27,774 shares of the asset manager’s stock valued at $4,789,000 after purchasing an additional 959 shares in the last quarter. Border to Coast Pensions Partnership Ltd increased its stake in Blackstone by 15.0% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 57,500 shares of the asset manager’s stock valued at $9,908,000 after buying an additional 7,500 shares during the last quarter. Finally, Ullmann Wealth Partners Group LLC boosted its stake in shares of Blackstone by 2.9% in the 4th quarter. Ullmann Wealth Partners Group LLC now owns 4,719 shares of the asset manager’s stock worth $814,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Bank of America upped their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $169.56.

Insider Buying and Selling

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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Blackstone stock opened at $180.00 on Friday. The stock 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. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $180.68 and a 200 day simple moving average of $157.84. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96.

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