Bartlett & CO. Wealth Management LLC Reduces Stock Position in Blackstone Inc. (NYSE:BX)

Bartlett & CO. Wealth Management LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,805 shares of the asset manager’s stock after selling 488 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Blackstone were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BX. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter valued at about $27,000. Kieckhefer Group LLC purchased a new position in shares of Blackstone during the 4th quarter worth about $39,000. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in 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 during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 1.5 %

BX opened at $185.56 on Friday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a market cap of $133.98 billion, a P/E ratio of 63.77, a P/E/G ratio of 1.21 and a beta of 1.53. The stock’s 50 day moving average price is $180.71 and its 200 day moving average price is $159.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BX shares. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Piper Sandler boosted their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $169.56.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the company’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 completion of the sale, the insider now directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.