Whalen Wealth Management Inc. Sells 2,261 Shares of Blackstone Inc. (NYSE:BX)

Whalen Wealth Management Inc. lowered its holdings in Blackstone Inc. (NYSE:BX) by 37.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,752 shares of the asset manager’s stock after selling 2,261 shares during the period. Whalen Wealth Management Inc.’s holdings in Blackstone were worth $647,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bangor Savings Bank boosted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. West Financial Advisors LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $39,000. Raleigh Capital Management Inc. lifted its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its holdings in Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after purchasing an additional 101 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. 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 report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $182.70 on Thursday. The firm’s 50 day moving average price is $180.71 and its 200-day moving average price is $159.71. 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 has a market capitalization of $131.91 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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.