Good Life Advisors LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Good Life Advisors LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,633 shares of the asset manager’s stock after selling 75 shares during the period. Good Life Advisors LLC’s holdings in Blackstone were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Fisher Asset Management LLC raised its position in shares of Blackstone by 10.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after buying an additional 459 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Blackstone by 9.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,931 shares of the asset manager’s stock worth $254,000 after purchasing an additional 174 shares during the period. Wedmont Private Capital raised its holdings in Blackstone by 7.1% during the 1st quarter. Wedmont Private Capital now owns 5,591 shares of the asset manager’s stock valued at $738,000 after buying an additional 373 shares during the period. Fragasso Group Inc. boosted its stake in Blackstone by 2.9% during the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after buying an additional 91 shares during the period. Finally, BTC Capital Management Inc. bought a new position in Blackstone during the first quarter valued at $418,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Up 6.3 %

NYSE BX opened at $169.73 on Friday. The company has a 50 day moving average price of $146.19 and a 200 day moving average price of $132.93. The firm has a market cap of $121.30 billion, a PE ratio of 59.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $172.25.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue was up 166.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on BX shares. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Bank of America increased their target price on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their price target on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley raised their target price 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. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.47.

About Blackstone

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.