USA Financial Formulas Buys Shares of 1,024 Blackstone Inc. (NYSE:BX)

USA Financial Formulas purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,024 shares of the asset manager’s stock, valued at approximately $177,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Glen Eagle Advisors LLC increased its position in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its position in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BX shares. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Twelve investment 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 presently has an average rating of “Hold” and an average price target of $169.56.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $176.68 on Friday. 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 52-week low of $114.88 and a 52-week high of $200.96. The stock has a 50 day moving average price of $180.67 and a 200 day moving average price of $157.71. The company has a market capitalization of $127.56 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Research analysts predict 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.