Brooklyn Investment Group Increases Stake in Blackstone Inc. (NYSE:BX)

Brooklyn Investment Group boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,840 shares of the asset manager’s stock after acquiring an additional 73 shares during the period. Brooklyn Investment Group’s holdings in Blackstone were worth $317,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bangor Savings Bank boosted 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 acquiring an additional 105 shares during the last quarter. West Financial Advisors LLC bought a new position in Blackstone during the third quarter valued at $27,000. Kieckhefer Group LLC bought a new stake in shares of Blackstone in the 4th quarter worth about $39,000. Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $180.00 on Friday. The business has a 50-day simple moving average of $180.73 and a two-hundred day simple moving average of $158.24. The company has a market cap of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week high of $200.96. 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 issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.53% and a net margin of 19.46%. As a group, equities analysts expect that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Barclays dropped their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods decreased their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $169.56.

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.