Blackstone Inc. (NYSE:BX) Shares Sold by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,881 shares of the asset manager’s stock after selling 196 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Blackstone were worth $2,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BX. CVA Family Office LLC raised its stake in shares of Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after buying an additional 73 shares in the last quarter. Moseley Investment Management Inc. raised its position in Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in shares of Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during the last quarter. Finally, WR Wealth Planners LLC lifted its stake in shares of Blackstone by 23.7% during the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after buying an additional 84 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America increased their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. TD Cowen lifted their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their target price on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $137.47.

Blackstone Stock Up 5.8 %

Shares of BX traded up $9.19 during mid-day trading on Thursday, reaching $168.90. 3,568,173 shares of the stock traded hands, compared to its average volume of 3,413,820. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $171.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $120.70 billion, a price-to-earnings ratio of 60.30, a P/E/G ratio of 1.24 and a beta of 1.51. The stock has a fifty day simple moving average of $145.40 and a 200 day simple moving average of $132.67.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. Sell-side analysts expect that Blackstone Inc. will post 4.46 EPS 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.