Wealthcare Advisory Partners LLC Buys 959 Shares of Blackstone Inc. (NYSE:BX)

Wealthcare Advisory Partners LLC raised its stake in Blackstone Inc. (NYSE:BX) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,774 shares of the asset manager’s stock after acquiring an additional 959 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Blackstone were worth $4,789,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BX. Border to Coast Pensions Partnership Ltd raised its stake in Blackstone by 15.0% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 57,500 shares of the asset manager’s stock valued at $9,908,000 after purchasing an additional 7,500 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its position in shares of Blackstone by 2.9% during the 4th quarter. Ullmann Wealth Partners Group LLC now owns 4,719 shares of the asset manager’s stock valued at $814,000 after buying an additional 133 shares in the last quarter. Carnegie Investment Counsel grew its position in Blackstone by 7.0% in the fourth quarter. Carnegie Investment Counsel now owns 1,536 shares of the asset manager’s stock worth $265,000 after acquiring an additional 101 shares in the last quarter. Mirador Capital Partners LP raised its position in Blackstone by 2.0% during the fourth quarter. Mirador Capital Partners LP now owns 97,536 shares of the asset manager’s stock valued at $16,817,000 after purchasing an additional 1,928 shares during the period. Finally, StrongBox Wealth LLC increased its position in shares of Blackstone by 2.8% during the 4th quarter. StrongBox Wealth LLC now owns 18,078 shares of the asset manager’s stock valued at $3,117,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BX. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup boosted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 0.8 %

Blackstone stock opened at $178.14 on Friday. Blackstone Inc. has a one year low of $115.63 and a one year 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 market cap of $128.62 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The stock has a 50-day moving average of $180.67 and a two-hundred day moving average of $157.71.

Blackstone (NYSE:BX) last issued its quarterly 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. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, research analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

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.