Private Advisor Group LLC Has $31.53 Million Position in Blackstone Inc. (NYSE:BX)

Private Advisor Group LLC grew its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,529 shares of the asset manager's stock after buying an additional 7,480 shares during the period. Private Advisor Group LLC's holdings in Blackstone were worth $31,525,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after buying an additional 62 shares in the last quarter. Ascent Group LLC increased its holdings in shares of Blackstone by 0.9% in the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock valued at $1,469,000 after purchasing an additional 74 shares during the period. Global Assets Advisory LLC increased its holdings in shares of Blackstone by 1.9% in the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock valued at $697,000 after purchasing an additional 75 shares during the period. Aptus Capital Advisors LLC increased its holdings in shares of Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after purchasing an additional 78 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Blackstone by 8.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,027 shares of the asset manager's stock valued at $177,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Keefe, Bruyette & Woods reduced their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research note on Thursday, July 10th. Finally, UBS Group dropped their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.18.

Insiders Place Their Bets

In other news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price 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 represents a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the transaction, 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. Over the last quarter, insiders have acquired 2,849,769 shares of company stock worth $54,932,307. Company insiders own 1.00% of the company's stock.

Blackstone Trading Down 2.1%

BX stock traded down $3.63 during midday trading on Friday, reaching $168.86. The stock had a trading volume of 4,127,243 shares, compared to its average volume of 3,855,654. The business has a fifty day simple moving average of $146.60 and a two-hundred day simple moving average of $150.55. 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 firm has a market cap 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 twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued 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 return on equity of 19.84% and a net margin of 19.83%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $0.98 EPS. As a group, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

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.