Koa Wealth Management LLC Has $2.46 Million Holdings in Blackstone Inc. (NYSE:BX)

Koa Wealth Management LLC cut its stake in Blackstone Inc. (NYSE:BX) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,279 shares of the asset manager’s stock after selling 1,846 shares during the period. Blackstone makes up 2.0% of Koa Wealth Management LLC’s holdings, making the stock its 14th largest position. Koa Wealth Management LLC’s holdings in Blackstone were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. International Assets Investment Management LLC increased its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Blackstone in the third quarter valued at about $67,472,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Blackstone by 7,917.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after acquiring an additional 395,011 shares in the last quarter. State Street Corp grew its stake in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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 stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 4.1 %

NYSE BX opened at $177.78 on Friday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The business has a fifty day moving average price of $180.92 and a two-hundred day moving average price of $161.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $128.35 billion, a PE ratio of 61.09, a PEG ratio of 1.22 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Equities analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reduced their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Morgan Stanley raised 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. Finally, Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.