Blackstone Inc. $BX Shares Acquired by Whittier Trust Co.

Whittier Trust Co. raised its holdings in Blackstone Inc. (NYSE:BX) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 346,318 shares of the asset manager’s stock after purchasing an additional 7,053 shares during the quarter. Whittier Trust Co.’s holdings in Blackstone were worth $58,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Blackstone during the 2nd quarter worth $1,071,348,000. Vanguard Group Inc. boosted its stake in shares of Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Blackstone by 31.9% during the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after purchasing an additional 919,773 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Blackstone by 115.4% in the second quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after purchasing an additional 583,384 shares during the last quarter. Finally, Amundi raised its stake in shares of Blackstone by 19.9% during the 2nd quarter. Amundi now owns 2,904,030 shares of the asset manager’s stock worth $444,494,000 after buying an additional 482,528 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat bought 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Breyer acquired 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Insiders bought a total of 797,148 shares of company stock valued at $24,050,153 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 2.9%

Shares of NYSE BX opened at $150.47 on Friday. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $190.09. The stock has a market capitalization of $111.11 billion, a PE ratio of 42.99, a P/E/G ratio of 1.06 and a beta of 1.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $152.31 and a 200-day moving average of $161.36.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research report on Friday, October 24th. Evercore ISI reduced their target price on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Barclays cut their price target on Blackstone from $172.00 to $171.00 and set an “equal weight” rating for the company in a report on Friday, January 9th. TD Cowen reduced their target price on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Finally, Jefferies Financial Group cut their price objective on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.