Wealth Effects LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Wealth Effects LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,343 shares of the asset manager’s stock after selling 638 shares during the period. Blackstone makes up about 1.5% of Wealth Effects LLC’s holdings, making the stock its 11th largest position. Wealth Effects LLC’s holdings in Blackstone were worth $4,197,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Castleark Management LLC purchased a new position in Blackstone during the third quarter worth $67,472,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after acquiring an additional 395,011 shares in the last quarter. State Street Corp raised its stake in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BX. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on 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 owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $182.59 on Tuesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 company has a market capitalization of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The firm has a fifty day simple moving average of $180.90 and a 200-day simple moving average of $160.88.

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.