Kingswood Wealth Advisors LLC Reduces Holdings in Blackstone Inc. (NYSE:BX)

Kingswood Wealth Advisors LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 19.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,019 shares of the asset manager’s stock after selling 2,838 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Blackstone were worth $2,072,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Glen Eagle Advisors LLC raised its stake in shares of Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its holdings in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% in 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 last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $182.59 on Tuesday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. 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 fifty day moving average price of $180.90 and a two-hundred day moving average price of $160.88. The firm has a market capitalization of $131.83 billion, a P/E ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several analysts recently commented on BX shares. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays decreased their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the firm’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 approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

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.