Blackstone Inc. (NYSE:BX) Shares Sold by First Pacific Financial

First Pacific Financial trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,271 shares of the asset manager’s stock after selling 164 shares during the period. First Pacific Financial’s holdings in Blackstone were worth $1,598,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. West Financial Advisors LLC purchased a new position in Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank raised its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone during the second quarter worth $39,000. Raleigh Capital Management Inc. increased its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $39,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX stock opened at $176.68 on Friday. The stock has a 50-day moving average price of $180.67 and a two-hundred day moving average price of $157.71. The company has a market cap of $127.56 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $114.88 and a 12-month high of $200.96.

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

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $169.56.

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.