Jeppson Wealth Management LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Jeppson Wealth Management LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,603 shares of the asset manager’s stock after selling 235 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Blackstone were worth $1,138,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at approximately $27,000. Bangor Savings Bank increased its stake in Blackstone by 187.5% during 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. Berbice Capital Management LLC purchased a new position in Blackstone in the 4th quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone during the second quarter worth about $39,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% in 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 last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods lowered their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were 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 $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.2 %

Blackstone stock opened at $182.59 on Tuesday. The firm has a 50-day moving average price of $180.90 and a two-hundred day moving average price of $160.88. Blackstone Inc. has a 52-week low of $115.82 and a 52-week 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 quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

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.