Renaissance Investment Group LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

Renaissance Investment Group LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,122 shares of the asset manager’s stock after selling 1,159 shares during the period. Renaissance Investment Group LLC’s holdings in Blackstone were worth $1,573,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Blackstone by 3.5% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Blackstone by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,254,342 shares of the asset manager’s stock valued at $155,288,000 after acquiring an additional 142,026 shares in the last quarter. Brighton Jones LLC lifted its holdings in Blackstone by 3.9% in the 2nd quarter. Brighton Jones LLC now owns 6,079 shares of the asset manager’s stock valued at $753,000 after purchasing an additional 229 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Blackstone by 1.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,770 shares of the asset manager’s stock valued at $1,457,000 after buying an additional 175 shares during the period. Finally, AE Wealth Management LLC grew its stake in Blackstone by 100.5% in the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock worth $1,253,000 after acquiring an additional 5,072 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.9 %

BX stock opened at $180.00 on Friday. The company has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The firm has a 50 day simple moving average of $180.73 and a 200-day simple moving average of $158.24. 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 twelve month low of $115.63 and a twelve month high of $200.96.

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

Insider Buying and Selling 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 currently owned by insiders.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods cut their target price 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. Twelve equities 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, Blackstone currently has an average rating of “Hold” and an average target price 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.