Kestra Private Wealth Services LLC Increases Position in Blackstone Inc. (NYSE:BX)

Kestra Private Wealth Services LLC increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,042 shares of the asset manager's stock after acquiring an additional 3,623 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Blackstone were worth $8,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BX. von Borstel & Associates Inc. purchased a new position in shares of Blackstone in the 1st quarter valued at approximately $28,000. Murphy & Mullick Capital Management Corp purchased a new stake in Blackstone in the fourth quarter worth $33,000. Bernard Wealth Management Corp. purchased a new stake in Blackstone in the fourth quarter worth $34,000. Putney Financial Group LLC purchased a new stake in Blackstone in the fourth quarter worth $34,000. Finally, Garde Capital Inc. purchased a new stake in Blackstone in the first quarter worth $36,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a report on Thursday, July 10th. Citigroup reiterated a "market perform" rating on shares of Blackstone in a research report on Saturday. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research report on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Blackstone has an average rating of "Hold" and an average price target of $162.18.

Blackstone Trading Down 2.1%

BX traded down $3.63 during trading on Friday, hitting $168.86. 4,127,243 shares of the stock were exchanged, compared to its average volume of 3,855,654. The firm has a 50 day simple moving average of $146.60 and a 200 day simple moving average of $150.55. The firm has a market cap of $123.21 billion, a price-to-earnings ratio of 50.86, a P/E/G ratio of 1.52 and a beta of 1.65. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly 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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 237 shares of the stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director owned 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider owned 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,849,769 shares of company stock valued at $54,932,307. 1.00% of the stock is owned by insiders.

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.