Blackstone Inc. (NYSE:BX) is BigSur Wealth Management LLC’s 5th Largest Position

BigSur Wealth Management LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 62,305 shares of the asset manager’s stock after selling 2,590 shares during the quarter. Blackstone accounts for about 3.1% of BigSur Wealth Management LLC’s holdings, making the stock its 5th biggest holding. BigSur Wealth Management LLC’s holdings in Blackstone were worth $10,743,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank increased its holdings 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 period. Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone during the 2nd quarter valued at approximately $39,000. Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Blackstone during the fourth quarter valued at $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

BX opened at $180.00 on Monday. 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 firm’s 50-day moving average price is $180.73 and its 200 day moving average price is $158.49. Blackstone Inc. has a twelve month low of $115.63 and a twelve month high of $200.96. The firm has a market capitalization of $129.96 billion, a PE ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts expect that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Wells Fargo & Company decreased their target price 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. Evercore ISI lifted 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. Finally, Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.56.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the company’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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.