RMR Wealth Builders Increases Position in Blackstone Inc. (NYSE:BX)

RMR Wealth Builders lifted its stake in Blackstone Inc. (NYSE:BX) by 84.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,271 shares of the asset manager’s stock after purchasing an additional 8,371 shares during the period. RMR Wealth Builders’ holdings in Blackstone were worth $3,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Outlook Wealth Advisors LLC grew its stake in shares of Blackstone by 8.3% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,285 shares of the asset manager’s stock valued at $394,000 after buying an additional 175 shares during the period. Connective Portfolio Management LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $517,000. USA Financial Formulas purchased a new stake in Blackstone in the fourth quarter valued at $177,000. BluePath Capital Management LLC grew its holdings in shares of Blackstone by 16.6% during the 4th quarter. BluePath Capital Management LLC now owns 5,858 shares of the asset manager’s stock worth $971,000 after purchasing an additional 835 shares during the period. Finally, Laurel Wealth Advisors LLC raised its holdings in Blackstone by 181.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 775 shares of the asset manager’s stock valued at $134,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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 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 can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $175.12 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $126.44 billion, a PE ratio of 60.18, a P/E/G ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The stock has a fifty day moving average price of $180.70 and a 200 day moving average price of $157.59.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Sell-side analysts forecast that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.56.

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.