Allen Capital Group LLC Sells 2,276 Shares of Blackstone Inc. (NYSE:BX)

Allen Capital Group LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,024 shares of the asset manager's stock after selling 2,276 shares during the quarter. Allen Capital Group LLC's holdings in Blackstone were worth $6,573,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Geode Capital Management LLC lifted its position in Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after purchasing an additional 444,887 shares during the last quarter. Northern Trust Corp lifted its position in Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after purchasing an additional 681,512 shares during the last quarter. Invesco Ltd. increased its stake in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after buying an additional 371,677 shares during the period. Finally, Norges Bank acquired a new position in Blackstone during the 4th quarter valued at about $974,448,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider owned 475,336 shares of the company's stock, valued at $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BX. Bank of America lowered their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Barclays reissued an "equal weight" rating on shares of Blackstone in a research report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, JMP Securities lifted their target price on shares of Blackstone from $165.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $162.18.

Blackstone Stock Up 4.1%

NYSE BX traded up $6.87 during trading on Thursday, reaching $172.79. The company's stock had a trading volume of 6,479,328 shares, compared to its average volume of 3,889,964. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $126.08 billion, a PE ratio of 52.05, a PEG ratio of 1.44 and a beta of 1.65. The business has a 50-day moving average price of $145.35 and a 200-day moving average price of $150.72. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm earned $0.98 earnings per share. On average, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

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.