NBC Securities Inc. Sells 185 Shares of Blackstone Inc. (NYSE:BX)

NBC Securities Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 3.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,086 shares of the asset manager’s stock after selling 185 shares during the quarter. NBC Securities Inc.’s holdings in Blackstone were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of Blackstone by 4.2% in the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock valued at $36,435,000 after purchasing an additional 9,668 shares during the period. CX Institutional grew its stake in shares of Blackstone by 4.8% in the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares during the period. Kathleen S. Wright Associates Inc. grew its stake in shares of Blackstone by 14.9% in the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 1,740 shares of the asset manager’s stock valued at $266,000 after purchasing an additional 225 shares during the period. Sapient Capital LLC grew its stake in shares of Blackstone by 4.1% in the 3rd quarter. Sapient Capital LLC now owns 4,143 shares of the asset manager’s stock valued at $634,000 after purchasing an additional 163 shares during the period. Finally, Paladin Wealth LLC acquired a new position in shares of Blackstone in the 3rd quarter worth approximately $174,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

Shares of NYSE BX opened at $159.71 on Thursday. The stock has a market capitalization of $114.14 billion, a price-to-earnings ratio of 56.43, a PEG ratio of 1.24 and a beta of 1.51. The business has a 50-day moving average of $145.40 and a 200-day moving average of $132.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25.

Blackstone (NYSE:BX) last posted 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, sell-side analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was 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 corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BX. The Goldman Sachs Group boosted their target price on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Redburn Atlantic began coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Bank of America upped their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $137.47.

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.