Arkadios Wealth Advisors Sells 1,744 Shares of Blackstone Inc. (NYSE:BX)

Arkadios Wealth Advisors lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,507 shares of the asset manager’s stock after selling 1,744 shares during the period. Arkadios Wealth Advisors’ holdings in Blackstone were worth $5,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Brooklyn Investment Group grew its position in Blackstone by 4.1% during the 4th quarter. Brooklyn Investment Group now owns 1,840 shares of the asset manager’s stock worth $317,000 after purchasing an additional 73 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Blackstone by 156.9% during the fourth quarter. Merit Financial Group LLC now owns 33,052 shares of the asset manager’s stock valued at $5,699,000 after buying an additional 20,188 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in Blackstone by 5.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,088 shares of the asset manager’s stock worth $532,000 after acquiring an additional 170 shares during the last quarter. Avanza Fonder AB acquired a new stake in Blackstone during the 4th quarter worth about $9,005,000. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Blackstone by 3.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 27,774 shares of the asset manager’s stock valued at $4,789,000 after purchasing an additional 959 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE BX opened at $180.00 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.63 and a 1-year high of $200.96. The company has a market cap of $129.96 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The stock’s 50 day simple moving average is $180.68 and its 200-day simple moving average is $157.84.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BX has been the topic of several research reports. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. UBS Group increased their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Company 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.