Ridgecrest Wealth Partners LLC Reduces Holdings in Blackstone Inc. (NYSE:BX)

Ridgecrest Wealth Partners LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 54.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,240 shares of the asset manager’s stock after selling 1,511 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Blackstone were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $27,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth $34,000. Kieckhefer Group LLC purchased a new stake in Blackstone in the 4th quarter valued at $39,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% in 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 last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Barclays lowered their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI increased their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Twelve research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of BX opened at $186.79 on Monday. The company’s 50 day simple moving average is $180.90 and its 200-day simple moving average is $160.88. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market cap of $134.86 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 1.22 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 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.