Blackstone Inc. (NYSE:BX) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545 shares of the asset manager’s stock after selling 291 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Blackstone were worth $458,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BX. International Assets Investment Management LLC lifted its position in Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Castleark Management LLC purchased a new position in Blackstone in the 3rd quarter valued at $67,472,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Blackstone by 7,917.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the last quarter. State Street Corp boosted its holdings in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $185.73 on Thursday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50 day moving average is $180.91 and its two-hundred day moving average is $161.67. The company has a market cap of $134.10 billion, a P/E ratio of 63.83, a P/E/G ratio of 1.22 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BX. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve investment 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, Blackstone currently has an average rating of “Hold” and an average target price of $169.56.

Insider Activity at Blackstone

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 shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

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.