Gradient Investments LLC Sells 27,032 Shares of Blackstone Inc. (NYSE:BX)

Gradient Investments LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 27.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,141 shares of the asset manager’s stock after selling 27,032 shares during the period. Gradient Investments LLC’s holdings in Blackstone were worth $12,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after purchasing an additional 937,084 shares during the last quarter. Mackenzie Financial Corp raised its position in Blackstone by 468.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after purchasing an additional 912,685 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after acquiring an additional 395,011 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BX. UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays dropped their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus 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 the stock in a transaction dated 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 owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

BX stock opened at $186.79 on Friday. The company has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 1.22 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 business has a 50-day simple moving average of $180.79 and a two-hundred day simple moving average of $159.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current 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.