Stonegate Investment Group LLC Sells 1,491 Shares of Blackstone Inc. (NYSE:BX)

Stonegate Investment Group LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 7.5% in the 4th quarter, Holdings Channel reports. The firm owned 18,367 shares of the asset manager’s stock after selling 1,491 shares during the quarter. Stonegate Investment Group LLC’s holdings in Blackstone were worth $3,167,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BX. State Street Corp grew its position in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares during the period. Geode Capital Management LLC raised its stake in Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares during the period. International Assets Investment Management LLC grew its stake in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Blackstone by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after purchasing an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after purchasing an additional 116,367 shares during the period. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Evercore ISI lifted their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research 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. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.56.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Trading 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 current ratio of 0.71 and a quick ratio of 0.71. The business has a 50-day moving average of $180.90 and a 200 day moving average of $160.88. The stock has a market capitalization of $131.83 billion, a PE ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

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.