Union Savings Bank Sells 474 Shares of Blackstone Inc. (NYSE:BX)

Union Savings Bank trimmed its holdings in Blackstone Inc. (NYSE:BX) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,581 shares of the asset manager’s stock after selling 474 shares during the period. Union Savings Bank’s holdings in Blackstone were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Legal & General Group Plc boosted its holdings in Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the last quarter. International Assets Investment Management LLC increased its stake in 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 valued at $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of NYSE:BX opened at $180.00 on Monday. 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 stock has a market cap of $129.96 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. The company has a 50 day moving average of $180.73 and a 200 day moving average of $158.49.

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 analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Barclays reduced their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Company 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.