Blackstone Inc. (NYSE:BX) Stock Position Trimmed by Koa Wealth Management LLC

Koa Wealth Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,279 shares of the asset manager’s stock after selling 1,846 shares during the period. Blackstone accounts for about 2.0% of Koa Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Koa Wealth Management LLC’s holdings in Blackstone were worth $2,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Glen Eagle Advisors LLC lifted its stake in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares during the period. Investmark Advisory Group LLC grew its holdings in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of 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 purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its stake in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft upped their target price 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. Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 4.1 %

Shares of BX opened at $177.78 on Friday. The firm has a market capitalization of $128.35 billion, a PE ratio of 61.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $180.92 and its 200-day simple moving average is $161.84.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts predict that Blackstone Inc. will post 4.45 earnings per share for the current year.

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.