Blackstone Inc. (NYSE:BX) Shares Purchased by Amplius Wealth Advisors LLC

Amplius Wealth Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,914 shares of the asset manager’s stock after acquiring an additional 1,377 shares during the quarter. Blackstone comprises about 2.2% of Amplius Wealth Advisors LLC’s holdings, making the stock its 15th largest position. Amplius Wealth Advisors LLC’s holdings in Blackstone were worth $19,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BX. Chilton Capital Management LLC purchased a new stake in Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone in the second quarter valued at approximately $27,000. West Financial Advisors LLC purchased a new stake in Blackstone during the third quarter worth approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone in the 2nd quarter valued at $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

BX opened at $159.71 on Thursday. The firm has a market cap of $114.14 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company’s 50-day moving average price is $145.40 and its 200 day moving average price is $132.67. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, sell-side analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.47.

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.