Perkins Coie Trust Co Sells 854 Shares of Blackstone Inc. (NYSE:BX)

Perkins Coie Trust Co reduced its position in shares of Blackstone Inc. (NYSE:BX) by 18.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,843 shares of the asset manager’s stock after selling 854 shares during the quarter. Perkins Coie Trust Co’s holdings in Blackstone were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter valued at $27,000. Bangor Savings Bank lifted its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone in the 2nd quarter valued at about $39,000. Raleigh Capital Management Inc. lifted its position in Blackstone by 32.1% during 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 during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $39,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.9 %

BX stock opened at $180.00 on Friday. The firm has a 50-day moving average price of $180.73 and a 200-day moving average price of $158.24. The stock has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.63 and a 12 month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

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.