Blackstone Inc. (NYSE:BX) Stock Holdings Trimmed by Wealth Effects LLC

Wealth Effects LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,343 shares of the asset manager’s stock after selling 638 shares during the quarter. Blackstone makes up about 1.5% of Wealth Effects LLC’s investment portfolio, making the stock its 11th biggest position. Wealth Effects LLC’s holdings in Blackstone were worth $4,197,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its position in Blackstone by 187.5% in the fourth 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 period. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $27,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. increased its position 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 period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Evercore ISI increased 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, October 14th. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on 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 of the company’s stock, valued at approximately $68,112,883.78. This trade represents 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 accessible through the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 2.2 %

NYSE:BX opened at $182.59 on Tuesday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market capitalization of $131.83 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 1.22 and a beta of 1.53. 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 business’s fifty day moving average price is $180.90 and its 200 day moving average price is $160.88.

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.