RMR Wealth Builders Purchases 8,371 Shares of Blackstone Inc. (NYSE:BX)

RMR Wealth Builders increased its stake in shares of Blackstone Inc. (NYSE:BX) by 84.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,271 shares of the asset manager’s stock after purchasing an additional 8,371 shares during the period. RMR Wealth Builders’ holdings in Blackstone were worth $3,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Blackstone by 213.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after acquiring an additional 937,084 shares during the last quarter. Mackenzie Financial Corp grew its holdings 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 purchasing an additional 912,685 shares in the last quarter. Castleark Management LLC bought a new position in Blackstone during the third quarter valued at $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BX shares. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group increased 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. Finally, Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 3.4 %

Shares of Blackstone stock opened at $175.12 on Thursday. The firm’s 50 day moving average price is $180.70 and its 200-day moving average price is $157.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52-week low of $114.88 and a 52-week high of $200.96. The company has a market cap of $126.44 billion, a P/E ratio of 60.18, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, sell-side analysts predict that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

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.