Gallagher Capital Advisors LLC Has $2.78 Million Stock Position in Blackstone Inc. $BX

Key Points

• Gallagher Capital Advisors LLC increased its stake in Blackstone Inc. by 69.3% in Q2, owning a total of 18,573 shares valued at approximately $2.78 million.
• Other large investors, including Kingstone Capital Partners and Vanguard Group, have significantly increased their stakes in Blackstone, highlighting strong institutional interest with 70% of the stock owned by institutional investors.
• Blackstone's latest quarterly earnings report indicated an EPS of $0.97 and a forecasted EPS of 5.87 for the current year, with analysts maintaining a "Moderate Buy" rating and a consensus price target of $182.79.

Gallagher Capital Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 69.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,573 shares of the asset manager's stock after purchasing an additional 7,602 shares during the period. Blackstone comprises 2.2% of Gallagher Capital Advisors LLC's portfolio, making the stock its 17th largest holding. Gallagher Capital Advisors LLC's holdings in Blackstone were worth $2,778,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC grew its holdings in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. grew its stake in Blackstone by 1.6% in the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock valued at $9,504,702,000 after purchasing an additional 1,102,949 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock worth $739,761,000 after purchasing an additional 742,829 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Blackstone by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager's stock valued at $599,872,000 after buying an additional 182,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Blackstone by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager's stock worth $581,886,000 after acquiring an additional 117,724 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

BX opened at $158.00 on Thursday. The stock has a market cap of $116.46 billion, a PE ratio of 42.47, a P/E/G ratio of 1.31 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock's 50 day simple moving average is $170.93 and its 200-day simple moving average is $155.32. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $2.49 billion for the quarter. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 21,500 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the sale, the insider owned 453,836 shares of the company's stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares of the company's stock, valued at $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BX shares. HSBC upped their price target on Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. Wells Fargo & Company lifted their price target on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Bank of America lowered their target price on shares of Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. TD Cowen cut their target price on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on Blackstone from $180.00 to $171.00 and set a "market perform" rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $182.79.

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.

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