Artemis Investment Management LLP Raises Position in Blackstone Inc. (NYSE:BX)

Artemis Investment Management LLP increased its position in Blackstone Inc. (NYSE:BX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,673 shares of the asset manager’s stock after acquiring an additional 511 shares during the period. Artemis Investment Management LLP’s holdings in Blackstone were worth $16,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bangor Savings Bank lifted its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. West Financial Advisors LLC purchased a new position in shares of Blackstone in the 3rd quarter worth $27,000. Kieckhefer Group LLC bought a new stake in shares of Blackstone in the fourth quarter worth $39,000. Raleigh Capital Management Inc. lifted its holdings in 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 acquiring an additional 62 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.9 %

Shares of BX opened at $180.00 on Friday. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week high of $200.96. The stock 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. The company’s fifty day moving average is $180.73 and its 200 day moving average is $158.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In related 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 transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BX. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Wells Fargo & Company decreased their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target 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.