Herbst Group LLC Sells 14,800 Shares of Blackstone Inc. (NYSE:BX)

Herbst Group LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 86.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,276 shares of the asset manager’s stock after selling 14,800 shares during the period. Herbst Group LLC’s holdings in Blackstone were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. West Financial Advisors LLC bought a new position in Blackstone during the 3rd quarter worth approximately $27,000. Bangor Savings Bank lifted its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Blackstone during the second quarter worth about $39,000. Raleigh Capital Management Inc. grew its position 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 valued at $39,000 after purchasing an additional 62 shares during the period. Finally, Kieckhefer Group LLC bought a new position in Blackstone in the fourth quarter valued at approximately $39,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $180.00 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week high of $200.96. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The stock has a fifty day moving average price of $180.73 and a 200-day moving average price of $158.24.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, equities analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Barclays lowered their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price 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.