Onyx Bridge Wealth Group LLC Buys 103 Shares of Blackstone Inc. $BX

Onyx Bridge Wealth Group LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,876 shares of the asset manager’s stock after buying an additional 103 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Blackstone were worth $580,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in shares of Blackstone in the first quarter valued at about $25,000. von Borstel & Associates Inc. bought a new stake in Blackstone in the 1st quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone during the 1st quarter worth approximately $28,000. Anderson Financial Strategies LLC purchased a new position in shares of Blackstone in the 1st quarter worth approximately $28,000. Finally, Family CFO Inc purchased a new stake in shares of Blackstone during the second quarter valued at approximately $28,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Blackstone from $194.00 to $188.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. The Goldman Sachs Group increased their price target on shares of Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $160.00 to $177.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. JMP Securities raised their price target on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research note on Friday, July 25th. Finally, Evercore ISI reduced their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.79.

Blackstone Stock Up 0.2%

Blackstone stock opened at $161.82 on Thursday. The firm has a 50 day simple moving average of $170.93 and a 200 day simple moving average of $155.32. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market capitalization of $119.28 billion, a price-to-earnings ratio of 43.50, a P/E/G ratio of 1.31 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. On average, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares in the company, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares in the company, valued at $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company’s stock.

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.