StrongBox Wealth LLC Buys 484 Shares of Blackstone Inc. (NYSE:BX)

StrongBox Wealth LLC boosted its position in Blackstone Inc. (NYSE:BX) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,078 shares of the asset manager’s stock after acquiring an additional 484 shares during the period. Blackstone accounts for 1.3% of StrongBox Wealth LLC’s portfolio, making the stock its 25th largest position. StrongBox Wealth LLC’s holdings in Blackstone were worth $3,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. State Street Corp grew its position 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 worth $4,597,028,000 after buying an additional 348,751 shares during the period. Geode Capital Management LLC increased its holdings in Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. Legal & General Group Plc lifted its stake in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Blackstone by 1.6% during 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 buying an additional 61,739 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on BX shares. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The stock was 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 in the company, valued at approximately $68,112,883.78. This trade 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 can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $175.12 on Thursday. Blackstone Inc. has a 52 week low of $114.88 and a 52 week 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 stock has a fifty day moving average of $180.70 and a 200-day moving average of $157.59. The stock has a market capitalization of $126.44 billion, a P/E ratio of 60.18, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for 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, sell-side analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

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.