Field & Main Bank Has $3.17 Million Stake in Blackstone Inc. (NYSE:BX)

Field & Main Bank trimmed its position in Blackstone Inc. (NYSE:BX) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,360 shares of the asset manager’s stock after selling 225 shares during the quarter. Blackstone accounts for 1.1% of Field & Main Bank’s holdings, making the stock its 26th largest holding. Field & Main Bank’s holdings in Blackstone were worth $3,166,000 at the end of the most recent quarter.

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

Blackstone Stock Up 0.5 %

BX opened at $186.47 on Wednesday. The stock has a market cap of $134.63 billion, a price-to-earnings ratio of 63.93, a PEG ratio of 1.22 and a beta of 1.53. The company’s 50-day moving average price is $180.91 and its two-hundred day moving average price is $161.67. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BX shares. JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley increased their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group upped their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $169.56.

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.