Blackstone Inc. $BX Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in Blackstone Inc. (NYSE:BX) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,134 shares of the asset manager’s stock after selling 4,000 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Blackstone worth $151,396,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Blackstone by 10.7% during the second quarter. Avior Wealth Management LLC now owns 3,451 shares of the asset manager’s stock valued at $516,000 after buying an additional 333 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Blackstone by 11.2% in the second quarter. V Square Quantitative Management LLC now owns 1,981 shares of the asset manager’s stock worth $296,000 after acquiring an additional 199 shares in the last quarter. Finally, GC Wealth Management RIA LLC lifted its position in shares of Blackstone by 226.3% in the 2nd quarter. GC Wealth Management RIA LLC now owns 5,113 shares of the asset manager’s stock valued at $765,000 after acquiring an additional 3,546 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $146.64 on Thursday. 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 business has a 50 day moving average price of $152.95 and a 200 day moving average price of $161.08. The company has a market cap of $108.28 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 1.05 and a beta of 1.75. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Analysts Set New Price Targets

BX has been the subject of a number of research analyst reports. Citigroup reduced their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Barclays reduced their price objective on Blackstone from $172.00 to $171.00 and set an “equal weight” rating for the company in a research note on Friday, January 9th. Keefe, Bruyette & Woods dropped their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. TD Cowen lowered their price objective on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Finally, HSBC cut their target price on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.05.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at approximately $21,610. The trade was a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 783,978 shares of company stock valued at $22,058,454 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone 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.