Lindbrook Capital LLC Trims Holdings in Blackstone Inc. (NYSE:BX)

Lindbrook Capital LLC lowered its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 52.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,363 shares of the asset manager's stock after selling 5,957 shares during the quarter. Lindbrook Capital LLC's holdings in Blackstone were worth $750,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its position in shares of Blackstone by 105.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock worth $1,874,000 after buying an additional 6,878 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $63,109,000. Parallel Advisors LLC raised its stake in shares of Blackstone by 6.6% in the 1st quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager's stock valued at $4,363,000 after acquiring an additional 1,943 shares during the period. Comprehensive Money Management Services LLC acquired a new stake in Blackstone in the 4th quarter valued at $1,747,000. Finally, Vanguard Group Inc. boosted its position in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after buying an additional 889,286 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the transaction, the insider directly owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of Blackstone stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the purchase, the insider owned 4,178,771 shares in the company, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,849,769 shares of company stock worth $54,932,307. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $168.86 on Monday. The stock's fifty day simple moving average is $146.60 and its 200 day simple moving average is $150.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $123.21 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 1.52 and a beta of 1.65. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on BX. Bank of America dropped their price target 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. Morgan Stanley decreased their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barclays reiterated an "equal weight" rating on shares of Blackstone in a research note on Thursday, July 10th. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, UBS Group cut their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $162.18.

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.

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