Moss Adams Wealth Advisors LLC Buys 146 Shares of Blackstone Inc. (NYSE:BX)

Moss Adams Wealth Advisors LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425 shares of the asset manager’s stock after purchasing an additional 146 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Blackstone were worth $418,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BX. International Assets Investment Management LLC boosted its holdings in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after purchasing an additional 937,084 shares during the period. Mackenzie Financial Corp raised its stake in shares of Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after buying an additional 912,685 shares during the period. Castleark Management LLC purchased a new stake in Blackstone in the 3rd quarter worth about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Blackstone by 7,917.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after purchasing an additional 395,011 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BX. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven 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 an average target price of $169.56.

Blackstone Stock Up 1.9 %

Shares of NYSE BX opened at $180.00 on Friday. Blackstone Inc. has a one year low of $115.63 and a one year high of $200.96. The stock has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The firm’s 50 day simple moving average is $180.73 and its two-hundred day simple moving average is $158.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.