ACT Wealth Management LLC Sells 360 Shares of Blackstone Inc. (NYSE:BX)

ACT Wealth Management LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 22.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,210 shares of the asset manager’s stock after selling 360 shares during the period. ACT Wealth Management LLC’s holdings in Blackstone were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BX. American Century Companies Inc. grew its holdings in shares of Blackstone by 3.5% in the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after acquiring an additional 2,002 shares during the period. AE Wealth Management LLC grew its stake in shares of Blackstone by 100.5% during the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock valued at $1,253,000 after purchasing an additional 5,072 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Blackstone by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock worth $6,313,000 after purchasing an additional 2,206 shares during the period. Thrivent Financial for Lutherans grew its position in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock valued at $5,524,000 after buying an additional 1,036 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Blackstone by 3.8% during the second quarter. ProShare Advisors LLC now owns 160,486 shares of the asset manager’s stock valued at $19,868,000 after buying an additional 5,854 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $181.52 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $131.06 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock’s 50 day simple moving average is $180.67 and its two-hundred day simple moving average is $159.13.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Barclays cut their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.