Alpha Cubed Investments LLC Sells 71 Shares of Blackstone Inc. (NYSE:BX)

Alpha Cubed Investments LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,003 shares of the asset manager’s stock after selling 71 shares during the period. Alpha Cubed Investments LLC’s holdings in Blackstone were worth $863,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank raised its holdings 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 during the period. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter worth approximately $27,000. Kieckhefer Group LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $39,000. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $180.00 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $129.96 billion, a PE ratio of 61.86, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The stock’s fifty day moving average price is $180.67 and its two-hundred day moving average price is $159.13.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, BMO Capital Markets upped their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target 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.