Diversify Wealth Management LLC Grows Position in Blackstone Inc. (NYSE:BX)

Diversify Wealth Management LLC increased its position in Blackstone Inc. (NYSE:BX) by 69.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,345 shares of the asset manager’s stock after acquiring an additional 9,195 shares during the period. Diversify Wealth Management LLC’s holdings in Blackstone were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of BX. American Century Companies Inc. raised its holdings in shares of Blackstone by 3.5% during the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after purchasing an additional 2,002 shares during the last quarter. Brighton Jones LLC grew its holdings in Blackstone by 3.9% during the second quarter. Brighton Jones LLC now owns 6,079 shares of the asset manager’s stock worth $753,000 after acquiring an additional 229 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Blackstone by 1.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 11,770 shares of the asset manager’s stock worth $1,457,000 after purchasing an additional 175 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of Blackstone by 100.5% in the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock valued at $1,253,000 after purchasing an additional 5,072 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Blackstone by 4.5% in the second quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock valued at $6,313,000 after buying an additional 2,206 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 387,137 shares in the company, 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. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 1.9 %

BX stock opened at $180.00 on Monday. The firm has a market cap of $129.96 billion, a PE ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a one year low of $115.63 and a one year high of $200.96. 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 firm’s 50 day moving average price is $180.73 and its 200-day moving average price is $158.49.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.37 billion. On average, equities research analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BX shares. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Citigroup lifted their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target 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.