Blackstone Inc. (NYSE:BX) Shares Bought by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC raised its stake in Blackstone Inc. (NYSE:BX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,633 shares of the asset manager’s stock after purchasing an additional 126 shares during the period. Blackstone comprises 2.3% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Terra Nova Asset Management LLC’s holdings in Blackstone were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BX. American Century Companies Inc. increased its holdings in shares of Blackstone by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after acquiring an additional 2,002 shares during the last quarter. Brighton Jones LLC grew its stake in Blackstone by 3.9% during the 2nd quarter. Brighton Jones LLC now owns 6,079 shares of the asset manager’s stock worth $753,000 after buying an additional 229 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Blackstone by 1.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 11,770 shares of the asset manager’s stock worth $1,457,000 after buying an additional 175 shares during the last quarter. AE Wealth Management LLC grew its stake in Blackstone by 100.5% during the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock worth $1,253,000 after buying an additional 5,072 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Blackstone by 4.5% during the 2nd quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock worth $6,313,000 after buying an additional 2,206 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BX shares. Barclays dropped their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley lifted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of BX stock opened at $180.00 on Monday. The stock has a fifty day moving average price of $180.73 and a 200 day moving average price of $158.49. The stock 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. Blackstone Inc. has a 1 year low of $115.63 and a 1 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.

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

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.