Rheos Capital Works Inc. Increases Stock Position in Blackstone Inc. (NYSE:BX)

Rheos Capital Works Inc. lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 25.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 103,000 shares of the asset manager’s stock after acquiring an additional 21,000 shares during the period. Rheos Capital Works Inc.’s holdings in Blackstone were worth $15,772,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BX. Wealth Enhancement Advisory Services LLC raised its position in Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares during the period. Norden Group LLC boosted its position in Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares during the period. Fisher Asset Management LLC increased its position in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 459 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Blackstone during the first quarter worth about $65,050,000. Finally, Blue Trust Inc. lifted its holdings in Blackstone by 936.2% in the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen upped their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.47.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of NYSE BX opened at $159.71 on Thursday. The firm’s fifty day moving average is $145.40 and its two-hundred day moving average is $132.67. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a market cap of $114.14 billion, a P/E ratio of 56.43, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. As a group, analysts anticipate that Blackstone Inc. will post 4.46 EPS 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.