Union Savings Bank Cuts Stake in Blackstone Inc. (NYSE:BX)

Union Savings Bank trimmed its holdings in Blackstone Inc. (NYSE:BX) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,581 shares of the asset manager’s stock after selling 474 shares during the quarter. Union Savings Bank’s holdings in Blackstone were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. West Financial Advisors LLC bought a new stake in Blackstone in the third quarter valued at approximately $27,000. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% during 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 last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Blackstone in the fourth quarter worth about $39,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BX shares. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Trading Up 1.9 %

NYSE:BX opened at $180.00 on Monday. The stock has a market cap 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 Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $180.73 and its 200-day moving average price is $158.49.

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

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.