Janney Montgomery Scott LLC Sells 8,841 Shares of Blackstone Inc. (NYSE:BX)

Janney Montgomery Scott LLC decreased its position in Blackstone Inc. (NYSE:BX) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 620,898 shares of the asset manager’s stock after selling 8,841 shares during the period. Janney Montgomery Scott LLC’s holdings in Blackstone were worth $107,055,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. West Financial Advisors LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank grew its stake 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 acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $39,000. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BX shares. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Bank of America upped their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler upped their price target 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, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Twelve 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 presently has a consensus rating of “Hold” and a consensus price target of $169.56.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, 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. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.6 %

Shares of BX stock opened at $182.70 on Thursday. The stock has a market cap of $131.91 billion, a P/E ratio of 62.78, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $180.68 and its two-hundred day simple moving average is $159.55.

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.