Blackstone Inc. (NYSE:BX) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 41,938 shares of the asset manager’s stock after selling 8,046 shares during the period. Royal Fund Management LLC’s holdings in Blackstone were worth $7,302,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new stake in Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank lifted its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the 3rd 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 last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s 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 sale, the insider now 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 owned by insiders.

Blackstone Stock Up 1.9 %

Blackstone stock opened at $180.00 on Tuesday. The stock has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The company’s 50-day moving average price is $180.73 and its two-hundred day moving average price is $158.74.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Barclays reduced their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.56.

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.