IVC Wealth Advisors LLC Sells 553 Shares of Blackstone Inc. (NYSE:BX)

IVC Wealth Advisors LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 16.0% in the 4th quarter, Holdings Channel reports. The fund owned 2,894 shares of the asset manager’s stock after selling 553 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Blackstone were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BX. West Financial Advisors LLC bought a new position in Blackstone in the third quarter valued at $27,000. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Blackstone during the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone in the 4th quarter valued at about $39,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Up 1.5 %

Shares of BX opened at $185.56 on Friday. The stock has a market capitalization of $133.98 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week 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 stock has a fifty day moving average of $180.71 and a 200-day moving average of $159.71.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BX. Barclays dropped their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Evercore ISI upped their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.56.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value 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. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by 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.