ACT Wealth Management LLC Sells 360 Shares of Blackstone Inc. (NYSE:BX)

ACT Wealth Management LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,210 shares of the asset manager’s stock after selling 360 shares during the quarter. ACT Wealth Management LLC’s holdings in Blackstone were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC bought a new stake in Blackstone during the 3rd quarter valued at about $27,000. Kieckhefer Group LLC bought a new position in Blackstone in the 4th quarter worth about $39,000. Raleigh Capital Management Inc. increased its position in shares of Blackstone by 32.1% during 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, Hazlett Burt & Watson Inc. boosted its holdings in shares of Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of NYSE BX opened at $181.52 on Wednesday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $131.06 billion, a PE ratio of 62.38, a P/E/G ratio of 1.20 and a beta of 1.53. The business has a 50-day simple moving average of $180.67 and a two-hundred day simple moving average of $159.13.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Bank of America increased their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $169.56.

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.