Whittier Trust Co. of Nevada Inc. Increases Position in Blackstone Inc. $BX

by · The Markets Daily

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,363 shares of the asset manager’s stock after acquiring an additional 4,539 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Blackstone were worth $23,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Traub Capital Management LLC bought a new position in shares of Blackstone during the 2nd quarter valued at approximately $27,000. Family CFO Inc bought a new position in Blackstone during the second quarter valued at $28,000. Parvin Asset Management LLC bought a new stake in shares of Blackstone in the second quarter valued at $35,000. Rexford Capital Inc. bought a new position in shares of Blackstone during the 2nd quarter worth $35,000. Finally, RMG Wealth Management LLC bought a new stake in Blackstone in the 2nd quarter valued at about $40,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were purchased at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the transaction, the insider owned 16,525,117 shares of the company’s stock, valued at $429,818,293.17. The trade was a 2.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated 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 owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired 797,148 shares of company stock worth $24,050,153 in the last quarter. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $150.47 on Friday. The firm has a market cap of $111.11 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $190.09. The company has a 50-day simple moving average of $152.31 and a two-hundred day simple moving average of $161.36. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company earned $1.02 EPS. Blackstone’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Bank of America decreased their price objective on Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. BMO Capital Markets cut their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Evercore ISI cut their price objective on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Finally, Morgan Stanley upped their target price on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $177.25.

Read Our Latest Stock Report on Blackstone

Blackstone Profile

(Free Report)

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.

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