Vanguard Personalized Indexing Management LLC Raises Position in Blackstone Inc. $BX

Vanguard Personalized Indexing Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,630 shares of the asset manager’s stock after acquiring an additional 5,738 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Blackstone were worth $15,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arcus Capital Partners LLC raised its holdings in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after acquiring an additional 58 shares in the last quarter. Mattern Wealth Management LLC lifted its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Blackstone by 3.5% in the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after buying an additional 61 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after acquiring an additional 63 shares in the last quarter. Finally, WNY Asset Management LLC increased its stake in Blackstone by 1.7% in the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 2.9%

Shares of NYSE:BX opened at $150.47 on Monday. The company has a market cap of $111.11 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09. The firm’s 50-day simple moving average is $152.31 and its 200-day simple moving average is $161.38. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.14 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BX. Evercore ISI cut their price target on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Finally, UBS Group cut their target price on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.25.

Insiders Place Their Bets

In other Blackstone news, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the transaction, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. The trade was a 25.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider owned 2,161 shares in the company, valued at $21,610. The trade was a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 797,148 shares of company stock worth $24,050,153. Insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.