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

Brooklyn Investment Group lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,840 shares of the asset manager’s stock after acquiring an additional 73 shares during the quarter. Brooklyn Investment Group’s holdings in Blackstone were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. West Financial Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter worth approximately $27,000. Bangor Savings Bank raised its holdings 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone during the second quarter valued at $39,000. Raleigh Capital Management Inc. grew its position 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 worth $39,000 after buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter valued at about $39,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value 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. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $180.00 on Friday. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $180.73 and its 200 day moving average is $158.24.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, equities research analysts predict that Blackstone Inc. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BX. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target 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.