Blackstone Inc. (NYSE:BX) Position Cut by Purus Wealth Management LLC

Purus Wealth Management LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,230 shares of the asset manager’s stock after selling 77 shares during the quarter. Purus Wealth Management LLC’s holdings in Blackstone were worth $1,074,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Glen Eagle Advisors LLC boosted its holdings in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 1.9 %

Shares of NYSE:BX opened at $180.00 on Monday. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The firm has a fifty day moving average price of $180.73 and a 200 day moving average price of $158.49. 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 stock has a market capitalization of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53.

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 for the quarter, compared to the consensus estimate of $2.37 billion. Analysts expect that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. Barclays dropped their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. TD Cowen upgraded 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 report on Monday, December 9th. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Evercore ISI lifted their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

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.