Whalen Wealth Management Inc. Has $647,000 Position in Blackstone Inc. (NYSE:BX)

Whalen Wealth Management Inc. lowered its stake in Blackstone Inc. (NYSE:BX) by 37.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,752 shares of the asset manager’s stock after selling 2,261 shares during the period. Whalen Wealth Management Inc.’s holdings in Blackstone were worth $647,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its position in Blackstone by 1.2% in the 3rd 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 during the period. Geode Capital Management LLC increased its holdings in Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. Legal & General Group Plc lifted its holdings in Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after buying an additional 141,616 shares during the period. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BX. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $169.56.

Insider Buying and Selling

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 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 of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 0.6 %

Shares of Blackstone stock opened at $182.70 on Thursday. The company has a 50 day simple moving average of $180.71 and a two-hundred day simple moving average of $159.71. The firm has a market cap of $131.91 billion, a PE ratio of 62.78, a PEG ratio of 1.21 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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.