Mutual Advisors LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Mutual Advisors LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,690 shares of the asset manager’s stock after selling 261 shares during the period. Mutual Advisors LLC’s holdings in Blackstone were worth $2,773,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BX. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter worth about $27,000. Bangor Savings Bank grew its position in 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 acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone during the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. increased its stake in 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 buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in Blackstone in the 4th quarter valued at about $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related 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 transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays decreased their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

BX opened at $185.56 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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 stock has a market cap of $133.98 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The business’s 50 day moving average is $180.71 and its 200-day moving average is $159.71.

About Blackstone

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.