Blackstone Inc. (NYSE:BX) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. cut its stake in Blackstone Inc. (NYSE:BX) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,985 shares of the asset manager’s stock after selling 1,075 shares during the period. Blackstone makes up about 1.5% of Beech Hill Advisors Inc.’s holdings, making the stock its 24th largest holding. Beech Hill Advisors Inc.’s holdings in Blackstone were worth $4,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Blackstone by 3.5% during the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after acquiring an additional 2,002 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Blackstone by 12.8% in the 2nd 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 during the period. Wealth Alliance increased its position in shares of Blackstone by 6.2% during the second quarter. Wealth Alliance now owns 2,642 shares of the asset manager’s stock worth $327,000 after acquiring an additional 155 shares during the period. Meiji Yasuda Life Insurance Co purchased a new position in Blackstone in the second quarter valued at $202,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Blackstone by 7.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 84,898 shares of the asset manager’s stock worth $10,258,000 after purchasing an additional 5,962 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of several analyst reports. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price target 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. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $169.56.

Blackstone Price Performance

BX traded up $0.77 during trading on Thursday, reaching $175.91. 162,865 shares of the stock were exchanged, compared to its average volume of 2,576,891. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The company has a market capitalization of $127.01 billion, a price-to-earnings ratio of 60.45, a P/E/G ratio of 1.02 and a beta of 1.53. The business’s 50 day moving average price is $180.70 and its two-hundred day moving average price is $157.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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

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.