Blackstone Inc. (NYSE:BX) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,146 shares of the asset manager’s stock after acquiring an additional 555 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Blackstone were worth $1,404,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BX. Community Trust & Investment Co. lifted its position in Blackstone by 1.9% during the 4th quarter. Community Trust & Investment Co. now owns 25,340 shares of the asset manager’s stock worth $4,369,000 after acquiring an additional 468 shares in the last quarter. R.H. Investment Group LLC purchased a new position in shares of Blackstone in the fourth quarter valued at $233,000. Pines Wealth Management LLC acquired a new position in Blackstone in the 4th quarter worth $346,000. Accurate Wealth Management LLC increased its position in shares of Blackstone by 29.5% during the fourth quarter. Accurate Wealth Management LLC now owns 6,489 shares of the asset manager’s stock worth $1,070,000 after acquiring an additional 1,478 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Blackstone by 22.1% in the fourth quarter. Rosenberg Matthew Hamilton now owns 469 shares of the asset manager’s stock valued at $81,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BX. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. BMO Capital Markets increased 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. Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Price Performance

Shares of BX opened at $175.12 on Thursday. The firm has a market capitalization of $126.44 billion, a price-to-earnings ratio of 60.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The stock’s fifty day moving average is $180.70 and its 200-day moving average is $157.59. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96. 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 released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Equities analysts anticipate that Blackstone Inc. will post 4.43 EPS for the current year.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Blackstone 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.