Blackstone Inc. $BX Shares Bought by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. grew its position in Blackstone Inc. (NYSE:BX) by 187.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,164 shares of the asset manager’s stock after buying an additional 3,365 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Blackstone were worth $875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators lifted its holdings in shares of Blackstone by 8.9% in the third quarter. Deseret Mutual Benefit Administrators now owns 2,052 shares of the asset manager’s stock valued at $351,000 after purchasing an additional 168 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Blackstone by 16.1% during the 3rd quarter. UniSuper Management Pty Ltd now owns 56,030 shares of the asset manager’s stock valued at $9,573,000 after acquiring an additional 7,768 shares in the last quarter. Drive Wealth Management LLC grew its position in Blackstone by 5.1% during the third quarter. Drive Wealth Management LLC now owns 1,768 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 86 shares in the last quarter. Jmac Enterprises LLC lifted its position in Blackstone by 8.8% in the 3rd quarter. Jmac Enterprises LLC now owns 8,700 shares of the asset manager’s stock worth $1,486,000 after buying an additional 700 shares in the last quarter. Finally, RMG Wealth Management LLC grew its stake in Blackstone by 33.5% in the third quarter. RMG Wealth Management LLC now owns 359 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 90 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the acquisition, the director owned 68,906 shares in the company, valued at $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 384,468 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were purchased at an average price of $26.01 per share, with a total value of $10,000,012.68. Following the transaction, the insider directly owned 16,525,117 shares in the company, valued at $429,818,293.17. This represents a 2.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 797,148 shares of company stock valued at $24,050,153. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 2.9%

Shares of BX opened at $150.47 on Friday. The company has a 50-day simple moving average of $152.31 and a 200-day simple moving average of $161.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $111.11 billion, a P/E ratio of 42.99, a P/E/G ratio of 1.09 and a beta of 1.75. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The business’s revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Wall Street Analyst Weigh In

BX has been the topic of a number of research reports. HSBC dropped their price objective on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. The Goldman Sachs Group raised their target price on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Rothschild & Co Redburn lowered their price objective on Blackstone from $168.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Morgan Stanley boosted their price objective on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Bank of America cut their target price on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $177.25.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.