Ameritas Advisory Services LLC Boosts Position in Blackstone Inc. (NYSE:BX)

Ameritas Advisory Services LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,141 shares of the asset manager’s stock after purchasing an additional 3,562 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Blackstone were worth $2,956,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. West Financial Advisors LLC purchased a new stake in Blackstone in the third quarter worth $27,000. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the second quarter worth $39,000. Raleigh Capital Management Inc. grew its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

BX opened at $180.00 on Monday. 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 $180.73 and a 200-day simple moving average of $158.49. The firm has a market cap of $129.96 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business 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%. On average, equities analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. UBS Group increased their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Evercore ISI lifted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.