Blackstone Inc. (NYSE:BX) Shares Purchased by Zhang Financial LLC

Zhang Financial LLC increased its position in Blackstone Inc. (NYSE:BX) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,567 shares of the asset manager’s stock after buying an additional 171 shares during the period. Zhang Financial LLC’s holdings in Blackstone were worth $1,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BX. Bangor Savings Bank boosted its holdings 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. West Financial Advisors LLC acquired a new stake in Blackstone in the 3rd quarter worth about $27,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $180.00 on Monday. The stock has a market cap of $129.96 billion, a P/E ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The stock has a 50 day moving average of $180.73 and a 200-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. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96.

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

Insider Activity at Blackstone

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Twelve investment 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, Blackstone currently has a consensus 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.