Compass Wealth Management LLC Cuts Position in Blackstone Inc. (NYSE:BX)

Compass Wealth Management LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,844 shares of the asset manager’s stock after selling 1,314 shares during the quarter. Blackstone makes up approximately 1.8% of Compass Wealth Management LLC’s holdings, making the stock its 9th largest position. Compass Wealth Management LLC’s holdings in Blackstone were worth $7,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BX. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC bought a new position in Blackstone in the third quarter worth approximately $27,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Kieckhefer Group LLC bought a new position in Blackstone in the 4th quarter worth $39,000. Finally, Raleigh Capital Management Inc. grew its holdings in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $186.79 on Friday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a 50 day moving average price of $180.90 and a 200-day moving average price of $160.35. The stock has a market capitalization of $134.86 billion, a PE ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price 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 lowered their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. UBS Group increased their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $169.56.

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.