Blackstone Inc. (NYSE:BX) is Ellsworth Advisors LLC’s 6th Largest Position

Ellsworth Advisors LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,484 shares of the asset manager’s stock after selling 653 shares during the period. Blackstone makes up approximately 1.9% of Ellsworth Advisors LLC’s portfolio, making the stock its 6th largest position. Ellsworth Advisors LLC’s holdings in Blackstone were worth $7,153,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after buying an additional 937,084 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after acquiring an additional 912,685 shares in the last quarter. Castleark Management LLC purchased a new stake in Blackstone during the 3rd quarter worth about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after purchasing an additional 395,011 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $180.00 on Monday. The stock has a 50 day moving average of $180.73 and a two-hundred day moving average of $158.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.63 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share 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 company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities analysts expect that Blackstone Inc. will post 4.45 EPS for the current year.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. 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 Upgrades and Downgrades

A number of equities research analysts recently issued reports on BX shares. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group upped their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Twelve research 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, Blackstone has an average rating of “Hold” and an average target price of $169.56.

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.