Constellation Investimentos e Participacoes Ltda Trims Position in Blackstone Inc. (NYSE:BX)

Constellation Investimentos e Participacoes Ltda decreased its position in Blackstone Inc. (NYSE:BX) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,765 shares of the asset manager’s stock after selling 120 shares during the period. Blackstone comprises approximately 0.5% of Constellation Investimentos e Participacoes Ltda’s portfolio, making the stock its 9th biggest holding. Constellation Investimentos e Participacoes Ltda’s holdings in Blackstone were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Sather Financial Group Inc lifted its holdings in Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in Blackstone in the third quarter worth $201,000. Aljian Capital Management LLC purchased a new position in Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC lifted its position in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Up 1.9 %

Shares of NYSE:BX opened at $180.00 on Friday. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The stock’s fifty day moving average price is $180.73 and its 200-day moving average price is $158.24. The company has a market cap of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for 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%. Sell-side analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BX. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays dropped their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.