Blackstone Inc. (NYSE:BX) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,128 shares of the asset manager’s stock after selling 481 shares during the period. Blackstone comprises about 1.2% of Stablepoint Partners LLC’s holdings, making the stock its 18th largest position. Stablepoint Partners LLC’s holdings in Blackstone were worth $6,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC lifted its position 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 buying an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after acquiring an additional 937,084 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Blackstone by 468.4% during the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after purchasing an additional 912,685 shares in the last quarter. Castleark Management LLC purchased a new position in Blackstone during the 3rd quarter worth approximately $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in 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 buying an additional 395,011 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. 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 report on Monday, January 13th. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Performance

Shares of BX stock opened at $186.79 on Friday. 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 market cap of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 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 has a fifty day moving average price of $180.90 and a 200 day moving average price of $160.35.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.