Blackstone Inc. (NYSE:BX) is BigSur Wealth Management LLC’s 5th Largest Position

BigSur Wealth Management LLC reduced its position in Blackstone Inc. (NYSE:BX) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,305 shares of the asset manager’s stock after selling 2,590 shares during the quarter. Blackstone makes up about 3.1% of BigSur Wealth Management LLC’s investment portfolio, making the stock its 5th largest holding. BigSur Wealth Management LLC’s holdings in Blackstone were worth $10,743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the 4th 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. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter valued at $27,000. Kieckhefer Group LLC purchased a new stake in Blackstone in the 4th quarter worth $39,000. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after buying an additional 101 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. UBS Group upped their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Barclays decreased their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently 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 stock in a transaction dated 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 completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

BX opened at $180.00 on Monday. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The company has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The stock’s fifty day moving average is $180.73 and its two-hundred day moving average is $158.49. 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 (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Analysts forecast that Blackstone Inc. will post 4.45 earnings per share for the current year.

Blackstone 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.