Wealthcare Advisory Partners LLC Grows Stock Position in Blackstone Inc. (NYSE:BX)

Wealthcare Advisory Partners LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 27,774 shares of the asset manager’s stock after purchasing an additional 959 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Blackstone were worth $4,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of BX. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter worth about $27,000. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the 2nd quarter worth $39,000. Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.8 %

BX opened at $178.14 on Friday. 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 firm has a market cap of $128.62 billion, a P/E ratio of 61.85, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The business has a fifty day simple moving average of $180.67 and a 200-day simple moving average of $157.71.

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, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, equities analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current year.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’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 value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BX. Barclays lowered their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday. 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. BMO Capital Markets increased their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average 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.