Parsons Capital Management Inc. RI Sells 870 Shares of Blackstone Inc. (NYSE:BX)

Parsons Capital Management Inc. RI trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,693 shares of the asset manager’s stock after selling 870 shares during the period. Blackstone accounts for about 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 18th biggest holding. Parsons Capital Management Inc. RI’s holdings in Blackstone were worth $19,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Heirloom Wealth Management increased its stake in shares of Blackstone by 18.7% in the 4th quarter. Heirloom Wealth Management now owns 8,505 shares of the asset manager’s stock valued at $1,466,000 after acquiring an additional 1,341 shares during the last quarter. West Wealth Group LLC acquired a new stake in Blackstone in the fourth quarter worth $224,000. Mount Yale Investment Advisors LLC grew its holdings in shares of Blackstone by 153.8% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,066 shares of the asset manager’s stock valued at $873,000 after buying an additional 3,070 shares during the period. Webster Bank N. A. raised its stake in Blackstone by 50.0% during the 4th quarter. Webster Bank N. A. now owns 282 shares of the asset manager’s stock worth $49,000 after buying an additional 94 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Blackstone by 8.1% during the fourth quarter. Pacer Advisors Inc. now owns 57,747 shares of the asset manager’s stock worth $9,957,000 after acquiring an additional 4,339 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

BX has been the topic of a number of research analyst reports. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets raised their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, Bank of America increased their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Twelve equities research 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, the company has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

NYSE BX opened at $186.79 on Monday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm has a market capitalization of $134.86 billion, a price-to-earnings ratio of 64.19, a P/E/G 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. The firm’s 50 day simple moving average is $180.90 and its 200 day simple moving average is $160.88.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 sale, the insider now 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.