TruWealth Advisors LLC Purchases 1,620 Shares of Blackstone Inc. (NYSE:BX)

TruWealth Advisors LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 32.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,614 shares of the asset manager’s stock after purchasing an additional 1,620 shares during the quarter. TruWealth Advisors LLC’s holdings in Blackstone were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BX. Ameritas Advisory Services LLC boosted its stake in Blackstone by 26.2% in the 4th quarter. Ameritas Advisory Services LLC now owns 17,141 shares of the asset manager’s stock worth $2,956,000 after purchasing an additional 3,562 shares during the period. Premier Path Wealth Partners LLC grew its stake in Blackstone by 6.3% during the fourth quarter. Premier Path Wealth Partners LLC now owns 6,267 shares of the asset manager’s stock valued at $1,081,000 after acquiring an additional 370 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in Blackstone by 3.1% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 36,065 shares of the asset manager’s stock worth $6,218,000 after purchasing an additional 1,082 shares in the last quarter. Howard Financial Services LTD. grew its position in shares of Blackstone by 582.7% during the 4th quarter. Howard Financial Services LTD. now owns 9,469 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 8,082 shares in the last quarter. Finally, Verity & Verity LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $2,019,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.9 %

Shares of NYSE BX opened at $180.00 on Friday. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $180.73 and its 200 day moving average is $158.24.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, equities research analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current year.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price 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.