CX Institutional Buys 122 Shares of Blackstone Inc. (NYSE:BX)

CX Institutional lifted its stake in Blackstone Inc. (NYSE:BX) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,663 shares of the asset manager’s stock after acquiring an additional 122 shares during the period. CX Institutional’s holdings in Blackstone were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC bought a new position in Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in Blackstone in the 2nd quarter worth approximately $29,000. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price target on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.47.

Blackstone Price Performance

Blackstone stock opened at $169.73 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $121.30 billion, a P/E ratio of 59.98, a P/E/G ratio of 1.24 and a beta of 1.51. The business’s fifty day moving average is $146.19 and its two-hundred day moving average is $132.93. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $172.25.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. Equities research analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current fiscal 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.