McElhenny Sheffield Capital Management LLC Boosts Stock Position in Blackstone Inc. (NYSE:BX)

McElhenny Sheffield Capital Management LLC grew its stake in Blackstone Inc. (NYSE:BX) by 36.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,631 shares of the asset manager’s stock after purchasing an additional 3,112 shares during the period. Blackstone makes up approximately 0.7% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 12th biggest holding. McElhenny Sheffield Capital Management LLC’s holdings in Blackstone were worth $2,005,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BX. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new position in Blackstone in the third quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in Blackstone in the fourth quarter valued at $39,000. Raleigh Capital Management Inc. grew its stake in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

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 price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The business’s 50-day moving average price is $180.73 and its 200 day moving average price is $158.24. Blackstone Inc. has a twelve month low of $115.63 and a twelve month high of $200.96.

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, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, research analysts predict that Blackstone Inc. will post 4.45 earnings per share for the current year.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $169.56.

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.