First Pacific Financial Reduces Holdings in Blackstone Inc. (NYSE:BX)

First Pacific Financial cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,271 shares of the asset manager’s stock after selling 164 shares during the period. First Pacific Financial’s holdings in Blackstone were worth $1,598,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BX. West Financial Advisors LLC bought a new position in Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Evercore ISI lifted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group increased their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Up 0.9 %

Blackstone stock opened at $176.68 on Friday. The company’s 50-day moving average price is $180.67 and its two-hundred day moving average price is $157.71. The stock has a market cap of $127.56 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 52 week low of $114.88 and a 52 week high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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