Hennion & Walsh Asset Management Inc. Sells 265 Shares of Blackstone Inc. (NYSE:BX)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,351 shares of the asset manager’s stock after selling 265 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Blackstone were worth $3,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. Legal & General Group Plc boosted its holdings in shares of Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after buying an additional 141,616 shares during the period. International Assets Investment Management LLC grew its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 0.9 %

Shares of NYSE BX opened at $176.68 on Friday. The business has a fifty day moving average of $180.67 and a two-hundred day moving average of $157.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a 52-week low of $114.88 and a 52-week high of $200.96. The stock has a market cap of $127.56 billion, a PE ratio of 60.71, a PEG ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BX has been the subject of several research analyst reports. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler increased their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.56.

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.