Foster Victor Wealth Advisors LLC Reduces Position in Blackstone Inc. (NYSE:BX)

Foster Victor Wealth Advisors LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,545 shares of the asset manager’s stock after selling 291 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Blackstone were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Robeco Institutional Asset Management B.V. boosted its stake in Blackstone by 67.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 29,224 shares of the asset manager’s stock valued at $5,039,000 after acquiring an additional 11,786 shares during the period. Sumitomo Life Insurance Co. bought a new stake in Blackstone in the fourth quarter valued at $9,983,000. SteelPeak Wealth LLC grew its position in shares of Blackstone by 2.3% during the fourth quarter. SteelPeak Wealth LLC now owns 35,032 shares of the asset manager’s stock worth $6,040,000 after acquiring an additional 785 shares during the last quarter. Orca Wealth Management LLC bought a new stake in Blackstone in the 4th quarter valued at about $2,979,000. Finally, BSW Wealth Partners grew its position in Blackstone by 36.1% in the 4th quarter. BSW Wealth Partners now owns 6,196 shares of the asset manager’s stock worth $1,068,000 after purchasing an additional 1,642 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

NYSE BX opened at $185.73 on Thursday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock’s 50-day moving average price is $180.91 and its two-hundred day moving average price is $161.67. The company has a market cap of $134.10 billion, a PE ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. 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. UBS Group upped their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered their target price 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. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Activity

In other Blackstone 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 sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company 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.