Blackstone Inc. (NYSE:BX) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC lessened its position in Blackstone Inc. (NYSE:BX) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,128 shares of the asset manager’s stock after selling 481 shares during the period. Blackstone comprises 1.2% of Stablepoint Partners LLC’s portfolio, making the stock its 18th largest holding. Stablepoint Partners LLC’s holdings in Blackstone were worth $6,402,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after purchasing an additional 1,036 shares during the period. Marshall Wace LLP grew its position in Blackstone by 3,074.1% during the second quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock valued at $13,255,000 after acquiring an additional 103,691 shares during the period. AXA S.A. raised its holdings in shares of Blackstone by 17.6% in the 2nd quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock worth $4,305,000 after purchasing an additional 5,214 shares during the period. AQR Capital Management LLC grew its holdings in shares of Blackstone by 123.6% during the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in Blackstone in the second quarter valued at approximately $350,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Barclays lowered their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

Shares of NYSE BX opened at $186.79 on Friday. The business has a 50 day simple moving average of $180.90 and a 200-day simple moving average of $160.35. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market capitalization of $134.86 billion, a price-to-earnings ratio of 64.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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.