New Wave Wealth Advisors LLC Lowers Holdings in Blackstone Inc. (NYSE:BX)

New Wave Wealth Advisors LLC trimmed its holdings in Blackstone Inc. (NYSE:BX) by 27.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,199 shares of the asset manager’s stock after selling 457 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Blackstone were worth $207,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the period. Geode Capital Management LLC grew its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. International Assets Investment Management LLC grew 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 valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $169.19.

Blackstone Stock Down 4.1 %

Shares of BX opened at $177.78 on Friday. The company has a market cap of $128.35 billion, a PE ratio of 61.09, a P/E/G ratio of 1.24 and a beta of 1.53. The business has a fifty day moving average of $180.59 and a 200 day moving average of $161.95. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, sell-side analysts expect that Blackstone Inc. will post 4.41 EPS for the current year.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’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 owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.