M3 Advisory Group LLC Has $918,000 Holdings in Blackstone Inc. (NYSE:BX)

M3 Advisory Group LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,996 shares of the asset manager’s stock after purchasing an additional 143 shares during the quarter. M3 Advisory Group LLC’s holdings in Blackstone were worth $918,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after buying an additional 7,692 shares in the last quarter. Norden Group LLC increased its position in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares in the last quarter. Fisher Asset Management LLC grew its stake in Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 459 shares during the period. Global Assets Advisory LLC acquired a new stake in Blackstone in the 1st quarter valued at $65,050,000. Finally, Blue Trust Inc. raised its holdings in Blackstone by 936.2% during the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays raised their price target on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $138.59.

Blackstone Stock Performance

NYSE BX traded up $2.86 during trading hours on Friday, hitting $172.59. 1,071,348 shares of the company’s stock traded hands, compared to its average volume of 3,428,367. The business’s fifty day moving average price is $146.19 and its two-hundred day moving average price is $132.93. The firm has a market capitalization of $123.34 billion, a P/E ratio of 60.77, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $173.05. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business earned $0.93 EPS. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. Equities research analysts predict that Blackstone Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.