Blackstone Inc. $BX Position Lifted by Whittier Trust Co.

Whittier Trust Co. raised its stake in Blackstone Inc. (NYSE:BX) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 346,318 shares of the asset manager’s stock after acquiring an additional 7,053 shares during the period. Whittier Trust Co.’s holdings in Blackstone were worth $58,337,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Traub Capital Management LLC acquired a new stake in shares of Blackstone during the 2nd quarter valued at approximately $27,000. Family CFO Inc bought a new stake in shares of Blackstone during the 2nd quarter valued at about $28,000. Parvin Asset Management LLC acquired a new position in Blackstone in the second quarter valued at approximately $35,000. Rexford Capital Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $35,000. Finally, RMG Wealth Management LLC bought a new position in Blackstone during the 2nd quarter worth $40,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 324 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director directly owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Breyer acquired 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 797,148 shares of company stock worth $24,050,153. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 2.9%

NYSE BX opened at $150.47 on Friday. The company has a market capitalization of $111.11 billion, a P/E ratio of 42.99, a PEG ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $190.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $152.31 and its 200 day simple moving average is $161.36.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.29. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Blackstone from $172.00 to $171.00 and set an “equal weight” rating for the company in a report on Friday, January 9th. JPMorgan Chase & Co. dropped their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a report on Wednesday. BNP Paribas Exane lowered their price target on Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $177.25.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.