Beech Hill Advisors Inc. Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Beech Hill Advisors Inc. decreased its holdings in Blackstone Inc. (NYSE:BX) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,985 shares of the asset manager’s stock after selling 1,075 shares during the quarter. Blackstone makes up approximately 1.5% of Beech Hill Advisors Inc.’s holdings, making the stock its 24th largest holding. Beech Hill Advisors Inc.’s holdings in Blackstone were worth $4,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BX. Sather Financial Group Inc increased its position in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Blackstone during the third quarter worth about $201,000. Aljian Capital Management LLC purchased a new position in Blackstone in the third quarter valued at about $1,951,000. Icon Wealth Advisors LLC increased its holdings in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. 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. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays lowered their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

Shares of NYSE:BX traded up $0.77 during trading on Thursday, reaching $175.91. The company had a trading volume of 162,865 shares, compared to its average volume of 2,576,891. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The firm has a market capitalization of $127.01 billion, a PE ratio of 60.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The firm’s fifty day moving average is $180.70 and its 200 day moving average is $157.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

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

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.