TruWealth Advisors LLC Has $765,000 Holdings in Blackstone Inc. (NYSE:BX)

TruWealth Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,994 shares of the asset manager’s stock after selling 69 shares during the quarter. TruWealth Advisors LLC’s holdings in Blackstone were worth $765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC raised its holdings in Blackstone by 10.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Blackstone by 9.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,931 shares of the asset manager’s stock valued at $254,000 after buying an additional 174 shares during the period. Wedmont Private Capital grew its holdings in Blackstone by 7.1% during the 1st quarter. Wedmont Private Capital now owns 5,591 shares of the asset manager’s stock worth $738,000 after acquiring an additional 373 shares during the period. Fragasso Group Inc. raised its position in shares of Blackstone by 2.9% in the 1st quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock worth $428,000 after acquiring an additional 91 shares in the last quarter. Finally, BTC Capital Management Inc. bought a new stake in shares of Blackstone during the 1st quarter valued at about $418,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Barclays boosted their price target on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. TD Cowen lifted their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their target price on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.47.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

BX opened at $169.73 on Friday. The firm’s fifty day moving average price is $146.19 and its two-hundred day moving average price is $132.93. The company has a market capitalization of $121.30 billion, a price-to-earnings ratio of 59.98, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $172.25.

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. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, analysts anticipate that Blackstone Inc. will post 4.46 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.