Dynamic Advisor Solutions LLC Sells 581 Shares of Blackstone Inc. (NYSE:BX)

Dynamic Advisor Solutions LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 7.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,110 shares of the asset manager’s stock after selling 581 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Blackstone were worth $1,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. State Street Corp grew its holdings in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the period. Geode Capital Management LLC increased its position in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after buying an additional 336,308 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Blackstone by 15,357.3% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after purchasing an additional 116,367 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BX shares. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Insiders Place Their Bets

In related 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 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 trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $186.79 on Monday. The firm has a market capitalization of $134.86 billion, a PE ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day moving average is $180.90 and its 200-day moving average is $160.62. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

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.