Blackstone Inc. (NYSE:BX) Stock Holdings Decreased by Sanders Morris Harris LLC

Sanders Morris Harris LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 509,759 shares of the asset manager’s stock after selling 7,669 shares during the quarter. Blackstone accounts for 13.2% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 2nd biggest holding. Sanders Morris Harris LLC’s holdings in Blackstone were worth $88,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirador Capital Partners LP boosted its stake in shares of Blackstone by 2.0% during the 4th quarter. Mirador Capital Partners LP now owns 97,536 shares of the asset manager’s stock valued at $16,817,000 after buying an additional 1,928 shares during the period. StrongBox Wealth LLC grew its stake in Blackstone by 2.8% in the fourth quarter. StrongBox Wealth LLC now owns 18,078 shares of the asset manager’s stock valued at $3,117,000 after purchasing an additional 484 shares in the last quarter. West Financial Advisors LLC lifted its holdings in shares of Blackstone by 335.2% during the 4th quarter. West Financial Advisors LLC now owns 766 shares of the asset manager’s stock valued at $132,000 after buying an additional 590 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in Blackstone during the fourth quarter valued at approximately $213,000. Finally, RMR Wealth Builders grew its position in Blackstone by 84.6% in the fourth quarter. RMR Wealth Builders now owns 18,271 shares of the asset manager’s stock worth $3,150,000 after acquiring an additional 8,371 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BX. Morgan Stanley increased their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $175.91 on Thursday. The firm has a market cap of $127.01 billion, a PE ratio of 60.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company’s 50-day moving average price is $180.70 and its two-hundred day moving average price is $157.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, equities analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Blackstone 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.