Eagle Wealth Strategies LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Eagle Wealth Strategies LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,278 shares of the asset manager’s stock after selling 200 shares during the quarter. Eagle Wealth Strategies LLC’s holdings in Blackstone were worth $565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Financial Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter worth $27,000. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone in the second quarter worth approximately $39,000. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd 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 during the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone in the 4th quarter valued at about $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $181.52 on Wednesday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm 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. The stock’s 50-day moving average is $180.68 and its two-hundred day moving average is $159.55.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 transaction, the insider now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on BX. Bank of America upped their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $169.56.

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.