Dynamic Advisor Solutions LLC Sells 581 Shares of Blackstone Inc. (NYSE:BX)

Dynamic Advisor Solutions LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,110 shares of the asset manager’s stock after selling 581 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Blackstone were worth $1,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC bought a new stake in Blackstone during the third quarter worth $201,000. Aljian Capital Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC raised its holdings in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after acquiring an additional 36,343 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America raised 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. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods cut their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Trading Up 0.7 %

Shares of BX stock opened at $186.79 on Monday. The company has a market cap of $134.86 billion, a P/E ratio of 64.19, a PEG ratio of 1.22 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 stock has a 50 day simple moving average of $180.90 and a two-hundred day simple moving average of $160.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

About Blackstone

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.