Gradient Investments LLC Decreases Holdings in Blackstone Inc. (NYSE:BX)

Gradient Investments LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,141 shares of the asset manager’s stock after selling 27,032 shares during the period. Gradient Investments LLC’s holdings in Blackstone were worth $12,611,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BX. Thrivent Financial for Lutherans increased its stake in shares of Blackstone by 2.4% in the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after purchasing an additional 1,036 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Blackstone by 3,074.1% during the second quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock worth $13,255,000 after acquiring an additional 103,691 shares in the last quarter. AXA S.A. grew its position in shares of Blackstone by 17.6% in the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after purchasing an additional 5,214 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Blackstone by 123.6% during the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Blackstone during the 2nd quarter valued at about $905,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.7 %

Shares of BX stock opened at $186.79 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The business has a 50-day moving average of $180.79 and a 200 day moving average of $159.89. The stock has a market capitalization of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Evercore ISI upped their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their price target 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 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, Blackstone presently has a consensus rating of “Hold” and an average target price of $169.56.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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.