Bay Rivers Group Decreases Stake in Blackstone Inc. (NYSE:BX)

Bay Rivers Group lowered its holdings in Blackstone Inc. (NYSE:BX) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,297 shares of the asset manager’s stock after selling 75 shares during the period. Blackstone comprises 1.5% of Bay Rivers Group’s portfolio, making the stock its 26th largest position. Bay Rivers Group’s holdings in Blackstone were worth $3,155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sather Financial Group Inc increased its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $201,000. Aljian Capital Management LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after buying an additional 36,343 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 2.2 %

Shares of BX stock opened at $182.59 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The business’s fifty day moving average is $180.90 and its 200-day moving average is $160.88. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BX. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $169.56.

Insider Buying and Selling

In other 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

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.