KBC Group NV Cuts Position in Blackstone Inc. (NYSE:BX)

KBC Group NV trimmed its position in Blackstone Inc. (NYSE:BX) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,907 shares of the asset manager’s stock after selling 38,506 shares during the quarter. KBC Group NV’s holdings in Blackstone were worth $22,054,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BX. Sather Financial Group Inc increased its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after acquiring an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the third quarter valued at approximately $201,000. Aljian Capital Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC raised its stake in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after acquiring an additional 36,343 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

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 stock was 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 directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

NYSE:BX opened at $185.73 on Wednesday. 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 fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s fifty day simple moving average is $180.89 and its 200-day simple moving average is $161.27. The stock has a market cap of $134.10 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53.

Analyst Upgrades and Downgrades

BX has been the subject of several research reports. UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report 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 for the company in a research note on Monday, January 13th. Barclays reduced their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus 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.