Terra Nova Asset Management LLC Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Terra Nova Asset Management LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 17,633 shares of the asset manager’s stock after purchasing an additional 126 shares during the period. Blackstone accounts for 2.3% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Terra Nova Asset Management LLC’s holdings in Blackstone were worth $3,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Smart Money Group LLC grew its position in shares of Blackstone by 187.2% in the fourth quarter. Smart Money Group LLC now owns 3,613 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,355 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Blackstone by 0.5% in the 4th quarter. Artemis Investment Management LLP now owns 97,673 shares of the asset manager’s stock valued at $16,841,000 after purchasing an additional 511 shares in the last quarter. McElhenny Sheffield Capital Management LLC increased its position in Blackstone by 36.5% during the 4th quarter. McElhenny Sheffield Capital Management LLC now owns 11,631 shares of the asset manager’s stock worth $2,005,000 after purchasing an additional 3,112 shares in the last quarter. Kelly Financial Services LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $233,000. Finally, Cadinha & Co. LLC grew its stake in Blackstone by 3.5% during the fourth quarter. Cadinha & Co. LLC now owns 1,992 shares of the asset manager’s stock worth $344,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $180.00 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a one year low of $115.63 and a one year high of $200.96. The company’s 50-day simple moving average is $180.73 and its 200-day simple moving average is $158.49. The stock has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Equities analysts anticipate that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now 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 legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on BX shares. UBS Group upped their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lowered 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, January 14th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Company 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.