Perigon Wealth Management LLC Trims Holdings in Blackstone Inc. (NYSE:BX)

Perigon Wealth Management LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 61,477 shares of the asset manager’s stock after selling 1,747 shares during the period. Perigon Wealth Management LLC’s holdings in Blackstone were worth $10,864,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BX. West Financial Advisors LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $27,000. Bangor Savings Bank boosted its stake 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 during the period. Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the 2nd quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. increased its position in Blackstone by 32.1% in the third 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. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $182.59 on Tuesday. 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 Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock 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 stock’s fifty day simple moving average is $180.90 and its 200 day simple moving average is $160.88.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America increased their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.56.

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.