Blackstone Inc. (NYSE:BX) Shares Sold by NBC Securities Inc.

NBC Securities Inc. lowered its stake in Blackstone Inc. (NYSE:BX) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,086 shares of the asset manager’s stock after selling 185 shares during the quarter. NBC Securities Inc.’s holdings in Blackstone were worth $778,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Creative Planning grew its stake in Blackstone by 4.2% during the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock valued at $36,435,000 after purchasing an additional 9,668 shares in the last quarter. CX Institutional grew its stake in Blackstone by 4.8% during the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares in the last quarter. Kathleen S. Wright Associates Inc. grew its stake in Blackstone by 14.9% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 1,740 shares of the asset manager’s stock valued at $266,000 after purchasing an additional 225 shares in the last quarter. Sapient Capital LLC lifted its holdings in Blackstone by 4.1% during the 3rd quarter. Sapient Capital LLC now owns 4,143 shares of the asset manager’s stock worth $634,000 after buying an additional 163 shares during the last quarter. Finally, Paladin Wealth LLC bought a new position in Blackstone during the 3rd quarter worth approximately $174,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $159.71 on Thursday. The stock has a market cap of $114.14 billion, a PE ratio of 56.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $145.40 and a 200-day simple moving average of $132.67.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) 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 analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on BX. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays increased their target price on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Bank of America raised their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $137.47.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’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 of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’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 of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.