Zimmermann Investment Management & Planning LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Zimmermann Investment Management & Planning LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,061 shares of the asset manager’s stock, valued at approximately $355,000. Blackstone makes up approximately 15.7% of Zimmermann Investment Management & Planning LLC’s portfolio, making the stock its 2nd largest position.

Other large investors also recently modified their holdings of the company. Sather Financial Group Inc lifted its holdings 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 acquiring an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new stake in Blackstone during the third quarter worth $201,000. Aljian Capital Management LLC bought a new stake in Blackstone during the third quarter worth $1,951,000. Icon Wealth Advisors LLC lifted its holdings in Blackstone by 2,185.4% during the third 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 period. Finally, PNC Financial Services Group Inc. lifted its holdings in 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 worth $179,089,000 after acquiring an additional 36,343 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $177.78 on Friday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business has a 50-day simple moving average of $180.59 and a 200 day simple moving average of $161.95. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $128.35 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 1.24 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, research analysts forecast that Blackstone Inc. will post 4.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Barclays decreased their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.19.

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.