Advisory Alpha LLC Buys 346 Shares of Blackstone Inc. (NYSE:BX)

Advisory Alpha LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 9.4% in the 4th quarter, HoldingsChannel reports. The fund owned 4,035 shares of the asset manager’s stock after buying an additional 346 shares during the quarter. Advisory Alpha LLC’s holdings in Blackstone were worth $696,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BX shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company cut their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, 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 research note on Monday, December 23rd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Price Performance

BX opened at $182.70 on Thursday. The firm has a market capitalization of $131.91 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The business’s 50-day moving average is $180.68 and its two-hundred day moving average is $159.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 year 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.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company 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.