Diversify Advisory Services LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

Diversify Advisory Services LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,678 shares of the asset manager’s stock after selling 8,436 shares during the quarter. Diversify Advisory Services LLC’s holdings in Blackstone were worth $2,090,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BX. Sather Financial Group Inc increased its stake in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone in the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC increased its holdings in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $180.00 on Monday. 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 company has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company’s 50 day simple moving average is $180.73 and its 200-day simple moving average is $158.49. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, equities research analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’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 completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. UBS Group increased their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus price target 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.