Cornerstone Wealth Management LLC Has $9.63 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Cornerstone Wealth Management LLC cut its stake in Blackstone Inc. (NYSE:BX) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,822 shares of the asset manager’s stock after selling 2,075 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Blackstone were worth $9,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bangor Savings Bank increased its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter valued at about $27,000. Kieckhefer Group LLC bought a new stake in Blackstone during the fourth quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during the third 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. boosted its holdings in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 101 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BX shares. Morgan Stanley increased their target price 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. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group increased 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 restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Up 1.5 %

Blackstone stock opened at $185.56 on Friday. The firm has a market capitalization of $133.98 billion, a PE ratio of 63.77, a P/E/G ratio of 1.21 and a beta of 1.53. The company’s 50-day moving average is $180.71 and its 200-day moving average is $159.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.