Procyon Advisors LLC Has $2.16 Million Holdings in Blackstone Inc. (NYSE:BX)

Procyon Advisors LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,511 shares of the asset manager’s stock after selling 146 shares during the quarter. Procyon Advisors LLC’s holdings in Blackstone were worth $2,157,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. JPMorgan Chase & Co. lifted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’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. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

Shares of Blackstone stock opened at $180.00 on Friday. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $129.96 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The firm’s 50 day moving average is $180.68 and its 200 day moving average is $157.84.

Blackstone (NYSE:BX) last announced 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 return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts forecast that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

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.