HB Wealth Management LLC Sells 293 Shares of Blackstone Inc. (NYSE:BX)

HB Wealth Management LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,646 shares of the asset manager’s stock after selling 293 shares during the period. HB Wealth Management LLC’s holdings in Blackstone were worth $4,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bangor Savings Bank raised its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at about $27,000. Kieckhefer Group LLC purchased a new stake in Blackstone in the fourth quarter worth approximately $39,000. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BX. Piper Sandler boosted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Barclays reduced their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $169.56.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX opened at $180.00 on Friday. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 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. The stock has a fifty day simple moving average of $180.73 and a two-hundred day simple moving average of $158.24.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Research analysts predict that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Blackstone Company 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.