Wesbanco Bank Inc. Sells 66 Shares of Blackstone Inc. (NYSE:BX)

Wesbanco Bank Inc. cut its position in shares of Blackstone Inc. (NYSE:BX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,156 shares of the asset manager’s stock after selling 66 shares during the quarter. Wesbanco Bank Inc.’s holdings in Blackstone were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BX. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC bought a new position in shares of Blackstone during the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter valued at about $27,000. Finally, Bank & Trust Co bought a new position in shares of Blackstone in the second quarter worth approximately $29,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents 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 company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. TD Cowen upped their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $137.47.

Blackstone Price Performance

NYSE BX opened at $159.71 on Thursday. The stock has a market cap of $114.14 billion, a price-to-earnings ratio of 56.43, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25. The company’s 50 day moving average is $145.40 and its two-hundred day moving average is $132.67. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted $0.93 EPS. The company’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, research analysts anticipate that Blackstone Inc. will post 4.46 earnings per share for the current year.

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.