GSB Wealth Management LLC Sells 109 Shares of Blackstone Inc. (NYSE:BX)

GSB Wealth Management LLC trimmed its stake in Blackstone Inc. (NYSE:BX) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,011 shares of the asset manager’s stock after selling 109 shares during the period. GSB Wealth Management LLC’s holdings in Blackstone were worth $347,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BX. Bangor Savings Bank lifted its position in Blackstone by 187.5% in 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 during the last quarter. West Financial Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter worth $34,000. Kieckhefer Group LLC bought a new position in shares of Blackstone during the fourth quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BX shares. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Barclays lowered their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Keefe, Bruyette & Woods decreased their target price on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of Blackstone stock opened at $186.79 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. The stock has a market cap of $134.86 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm’s 50-day moving average is $180.90 and its 200 day moving average is $160.35.

Insider Buying and Selling

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

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.