Blackstone Inc. (NYSE:BX) Position Boosted by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,188 shares of the asset manager's stock after acquiring an additional 4,262 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Blackstone were worth $18,477,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 444,887 shares in the last quarter. Northern Trust Corp lifted its stake 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 buying an additional 681,512 shares in the last quarter. Invesco Ltd. lifted its stake in Blackstone by 6.6% in 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 in the last quarter. Finally, Norges Bank purchased a new stake in Blackstone in the 4th quarter valued at approximately $974,448,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 2.2%

NYSE BX traded down $3.87 during trading hours on Friday, hitting $168.62. The company had a trading volume of 2,713,182 shares, compared to its average volume of 3,878,250. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a market capitalization of $123.04 billion, a price-to-earnings ratio of 50.79, a P/E/G ratio of 1.50 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. The firm's 50 day moving average is $146.01 and its 200 day moving average is $150.73.

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 the consensus estimate 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 analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Insider Activity at Blackstone

In other news, Director Ruth Porat acquired 237 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $136.33 per share, with a total value of $32,310.21. Following the transaction, the director directly owned 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 25,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider directly owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Piper Sandler reaffirmed a "neutral" rating on shares of Blackstone in a research note on Thursday, July 10th. Barclays reissued an "equal weight" rating on shares of Blackstone in a research note on Thursday, July 10th. Keefe, Bruyette & Woods reduced their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price target on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Bank of America reduced their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $162.18.

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.