Laurel Wealth Advisors LLC Has $134,000 Position in Blackstone Inc. (NYSE:BX)

Laurel Wealth Advisors LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 181.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 775 shares of the asset manager’s stock after purchasing an additional 500 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Blackstone were worth $134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc boosted its position in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new stake in shares of Blackstone during the 3rd quarter worth $201,000. Aljian Capital Management LLC acquired a new position in Blackstone in the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC lifted its position in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Blackstone by 3.2% in 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 purchasing an additional 36,343 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 387,137 shares in the company, 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 filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Up 3.4 %

BX opened at $175.12 on Thursday. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The firm has a market cap of $126.44 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.63 and a beta of 1.53. The firm’s 50-day simple moving average is $180.70 and its 200-day simple moving average is $157.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share 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 analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts anticipate that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

About Blackstone

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.