Blackstone Inc. (NYSE:BX) Stake Reduced by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 9.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,805 shares of the asset manager’s stock after selling 488 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Blackstone were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sather Financial Group Inc grew its position in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC acquired a new position in Blackstone during the third quarter valued at $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone during the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

Blackstone stock 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 price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The business has a 50 day moving average price of $180.71 and a two-hundred day moving average price of $159.71. 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 Analyst Weigh In

BX has been the subject of a number of research reports. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Barclays reduced their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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 stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

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.