Stonegate Investment Group LLC Sells 1,491 Shares of Blackstone Inc. (NYSE:BX)

Stonegate Investment Group LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,367 shares of the asset manager’s stock after selling 1,491 shares during the quarter. Stonegate Investment Group LLC’s holdings in Blackstone were worth $3,167,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter valued at approximately $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Blackstone in the fourth quarter valued at $34,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Blackstone in the 2nd quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Blackstone by 32.1% during the 3rd 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. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BX. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Trading Down 2.2 %

Shares of Blackstone stock opened at $182.59 on Tuesday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. 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 has a market capitalization of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The firm’s 50 day moving average is $180.90 and its 200 day moving average is $160.88.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate 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.