Northside Capital Management LLC Sells 707 Shares of Blackstone Inc. (NYSE:BX)

Northside Capital Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 25.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,045 shares of the asset manager’s stock after selling 707 shares during the period. Northside Capital Management LLC’s holdings in Blackstone were worth $353,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. West Financial Advisors LLC bought a new position in Blackstone during the third quarter valued at about $27,000. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Blackstone in the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the third 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. Finally, Kieckhefer Group LLC bought a new stake in shares of Blackstone in the 4th quarter valued at approximately $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 3.4 %

Shares of NYSE BX opened at $175.12 on Thursday. The company’s 50 day simple moving average is $180.70 and its 200 day simple moving average is $157.59. The firm has a market capitalization of $126.44 billion, a P/E ratio of 60.18, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last announced 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 business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, analysts predict that Blackstone Inc. will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted 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. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.