McElhenny Sheffield Capital Management LLC Grows Stake in Blackstone Inc. (NYSE:BX)

McElhenny Sheffield Capital Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 36.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,631 shares of the asset manager’s stock after buying an additional 3,112 shares during the quarter. Blackstone comprises 0.7% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 12th largest position. McElhenny Sheffield Capital Management LLC’s holdings in Blackstone were worth $2,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sather Financial Group Inc boosted its position in 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 buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the third quarter valued at about $201,000. Aljian Capital Management LLC purchased a new stake in Blackstone during the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC boosted its stake in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 worth $179,089,000 after buying an additional 36,343 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’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 transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of NYSE BX opened at $180.00 on Friday. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. The stock has a 50 day simple moving average of $180.73 and a 200-day simple moving average of $158.24.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS 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 analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities research analysts forecast that Blackstone Inc. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on BX. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Wells Fargo & Company decreased their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Bank of America increased their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Evercore ISI boosted their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average 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.