Triangle Securities Wealth Management Reduces Holdings in Blackstone Inc. (NYSE:BX)

Triangle Securities Wealth Management decreased its holdings in Blackstone Inc. (NYSE:BX) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,618 shares of the asset manager’s stock after selling 2,653 shares during the quarter. Blackstone accounts for approximately 2.1% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 10th biggest holding. Triangle Securities Wealth Management’s holdings in Blackstone were worth $8,210,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank increased its stake 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 buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone in the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. increased its position 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 valued at $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Blackstone in the fourth quarter worth $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the 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 completion of the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BX. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America increased their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Trading Up 1.9 %

BX stock opened at $180.00 on Friday. Blackstone Inc. has a one year low of $115.63 and a one year high of $200.96. The company has a market capitalization of $129.96 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company’s 50 day moving average price is $180.73 and its two-hundred day moving average price is $158.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

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

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.