Sonora Investment Management Group LLC Buys 740 Shares of Blackstone Inc. (NYSE:BX)

Sonora Investment Management Group LLC raised its position in Blackstone Inc. (NYSE:BXFree Report) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 138,881 shares of the asset manager’s stock after acquiring an additional 740 shares during the period. Blackstone makes up about 1.8% of Sonora Investment Management Group LLC’s holdings, making the stock its 13th largest holding. Sonora Investment Management Group LLC’s holdings in Blackstone were worth $23,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BX. Mediolanum International Funds Ltd purchased a new position in Blackstone during the 4th quarter valued at about $4,239,000. Crews Bank & Trust bought a new position in Blackstone in the 4th quarter valued at $129,000. Lewis Asset Management LLC raised its position in shares of Blackstone by 8.8% in the fourth quarter. Lewis Asset Management LLC now owns 4,992 shares of the asset manager’s stock worth $861,000 after buying an additional 403 shares in the last quarter. Stordahl Capital Management Inc. purchased a new position in Blackstone during the fourth quarter worth about $207,000. Finally, Highland Capital Management LLC raised its holdings in shares of Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after acquiring an additional 15,205 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

NYSE:BX opened at $177.78 on Friday. The firm’s fifty day simple moving average is $180.92 and its 200 day simple moving average is $161.84. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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 stock has a market cap of $128.35 billion, a P/E ratio of 61.09, a price-to-earnings-growth ratio of 1.24 and a beta of 1.53.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts predict that Blackstone Inc. will post 4.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.56.

Read Our Latest Analysis on Blackstone

About Blackstone

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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