Blackstone Inc. (NYSE:BX) Stock Holdings Boosted by Trust Investment Advisors

Trust Investment Advisors increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 96.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the asset manager's stock after purchasing an additional 2,852 shares during the period. Trust Investment Advisors' holdings in Blackstone were worth $814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its position in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager's stock worth $1,874,000 after purchasing an additional 6,878 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $63,109,000. Parallel Advisors LLC lifted its holdings in Blackstone by 6.6% in the first 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 position in Blackstone in the fourth quarter valued at approximately $1,747,000. Finally, Vanguard Group Inc. raised 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 buying an additional 889,286 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider directly owned 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruth Porat bought 237 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Blackstone Stock Up 4.1%

NYSE BX traded up $6.87 on Thursday, hitting $172.79. 6,479,328 shares of the stock traded hands, compared to its average volume of 3,889,964. The stock has a 50-day moving average of $145.35 and a 200 day moving average of $150.72. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a market capitalization of $126.08 billion, a P/E ratio of 52.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BX shares. Keefe, Bruyette & Woods dropped their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Citigroup lifted their target price on Blackstone from $137.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. Morgan Stanley lowered their target price 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, Evercore ISI lifted their target price on Blackstone from $152.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average 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.