Arkadios Wealth Advisors Trims Stock Position in Blackstone Inc. (NYSE:BX)

Arkadios Wealth Advisors decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,507 shares of the asset manager’s stock after selling 1,744 shares during the quarter. Arkadios Wealth Advisors’ holdings in Blackstone were worth $5,088,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. American Century Companies Inc. increased its holdings in Blackstone by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after purchasing an additional 2,002 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Blackstone by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,254,342 shares of the asset manager’s stock valued at $155,288,000 after buying an additional 142,026 shares in the last quarter. Wealth Alliance lifted its stake in Blackstone by 6.2% during the 2nd quarter. Wealth Alliance now owns 2,642 shares of the asset manager’s stock worth $327,000 after acquiring an additional 155 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Blackstone by 7.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 84,898 shares of the asset manager’s stock valued at $10,258,000 after acquiring an additional 5,962 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Blackstone by 54.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,528 shares of the asset manager’s stock worth $1,922,000 after purchasing an additional 5,503 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.9 %

NYSE:BX opened at $180.00 on Friday. 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 $115.63 and a 52-week high of $200.96. The stock’s 50 day moving average price is $180.68 and its 200 day moving average price is $157.84. The company has a market capitalization of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last released 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. The firm 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, research analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current year.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s 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 directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. UBS Group lifted their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Evercore ISI boosted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.56.

Blackstone 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.