Novare Capital Management LLC Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

Novare Capital Management LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,646 shares of the asset manager’s stock after selling 60 shares during the quarter. Novare Capital Management LLC’s holdings in Blackstone were worth $284,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BX. West Financial Advisors LLC purchased a new position in Blackstone during the 3rd quarter valued at approximately $27,000. Bangor Savings Bank raised its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BX. Keefe, Bruyette & Woods lowered their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company reduced their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $169.56.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the firm’s 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 sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $186.79 on Monday. The stock 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 50 day moving average price of $180.90 and a 200-day moving average price of $160.62. 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 Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

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.