Janney Montgomery Scott LLC Reduces Stock Position in Blackstone Inc. (NYSE:BX)

Janney Montgomery Scott LLC lowered its position in Blackstone Inc. (NYSE:BX) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,898 shares of the asset manager’s stock after selling 8,841 shares during the quarter. Janney Montgomery Scott LLC owned 0.09% of Blackstone worth $107,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of Blackstone by 15,357.3% in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after acquiring an additional 937,084 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after purchasing an additional 912,685 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter worth about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Blackstone by 7,917.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after purchasing an additional 395,011 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 0.6 %

BX opened at $182.70 on Thursday. The company’s 50 day moving average price is $180.68 and its two-hundred day moving average price is $159.55. The firm has a market capitalization of $131.91 billion, a price-to-earnings ratio of 62.78, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Wall Street Analyst Weigh In

A number of brokerages have commented on BX. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Bank of America lifted their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

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.