Perigon Wealth Management LLC Has $10.86 Million Stake in Blackstone Inc. (NYSE:BX)

Perigon Wealth Management LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,477 shares of the asset manager’s stock after selling 1,747 shares during the quarter. Perigon Wealth Management LLC’s holdings in Blackstone were worth $10,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sather Financial Group Inc grew its stake 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 purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC acquired a new position in Blackstone in the third quarter worth approximately $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC increased its stake in shares of Blackstone by 2,185.4% during the 3rd 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 last quarter. Finally, PNC Financial Services Group Inc. lifted its stake 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 valued at $179,089,000 after purchasing an additional 36,343 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BX has been the topic of several recent research reports. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $169.56.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the firm’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 transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 2.2 %

BX opened at $182.59 on Tuesday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a market capitalization of $131.83 billion, a P/E ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53. 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 firm’s fifty day moving average price is $180.90 and its two-hundred day moving average price is $160.88.

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.