Sandy Cove Advisors LLC Purchases 77 Shares of Blackstone Inc. (NYSE:BX)

Sandy Cove Advisors LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,866 shares of the asset manager’s stock after acquiring an additional 77 shares during the period. Blackstone accounts for approximately 0.7% of Sandy Cove Advisors LLC’s holdings, making the stock its 25th biggest holding. Sandy Cove Advisors LLC’s holdings in Blackstone were worth $1,701,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BX. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Blackstone by 6.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 2,425 shares of the asset manager’s stock worth $418,000 after acquiring an additional 146 shares during the last quarter. Smith Salley Wealth Management purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $1,493,000. Krilogy Financial LLC raised its holdings in shares of Blackstone by 0.4% in the fourth quarter. Krilogy Financial LLC now owns 17,928 shares of the asset manager’s stock worth $3,091,000 after buying an additional 74 shares during the period. TruWealth Advisors LLC lifted its position in shares of Blackstone by 32.4% during the fourth quarter. TruWealth Advisors LLC now owns 6,614 shares of the asset manager’s stock worth $1,140,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Blackstone by 26.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 17,141 shares of the asset manager’s stock worth $2,956,000 after purchasing an additional 3,562 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Up 1.9 %

Shares of NYSE:BX opened at $180.00 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $129.96 billion, a PE ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The business has a 50 day moving average of $180.73 and a two-hundred day moving average of $158.24. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating 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 analyst estimates of $2.37 billion. As a group, analysts forecast that Blackstone Inc. will post 4.45 EPS for the current year.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on BX. The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Wells Fargo & Company cut their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

About Blackstone

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.