Novare Capital Management LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Novare Capital Management LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,646 shares of the asset manager’s stock after selling 60 shares during the quarter. Novare Capital Management LLC’s holdings in Blackstone were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BX. State Street Corp boosted its position in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Blackstone by 15,357.3% during the third 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. Charles Schwab Investment Management Inc. boosted its holdings in Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after purchasing an additional 61,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Blackstone by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after buying an additional 116,367 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

BX opened at $186.79 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $180.90 and its 200 day moving average price is $160.62. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market capitalization of $134.86 billion, a PE ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BX shares. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods lowered their target price on shares of 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, Evercore ISI upped 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. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $169.56.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the business’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 of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.