Zimmermann Investment Management & Planning LLC Buys Shares of 2,061 Blackstone Inc. (NYSE:BX)

Zimmermann Investment Management & Planning LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,061 shares of the asset manager’s stock, valued at approximately $355,000. Blackstone comprises about 15.7% of Zimmermann Investment Management & Planning LLC’s investment portfolio, making the stock its 2nd biggest position.

Several other institutional investors have also recently made changes to their positions in BX. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $27,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Blackstone by 32.1% during the 3rd 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. Institutional investors and hedge funds 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 firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction 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 $68,112,883.78. This trade 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 at the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

BX has been the topic of a number of research reports. Bank of America upped their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday. Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.19.

Blackstone Price Performance

Blackstone stock opened at $177.78 on Friday. The company has a market capitalization of $128.35 billion, a PE ratio of 61.09, a P/E/G ratio of 1.24 and a beta of 1.53. The stock has a 50-day moving average price of $180.59 and a two-hundred day moving average price of $161.95. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. Analysts expect that Blackstone Inc. will post 4.41 EPS for the current 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.