Capital Asset Advisory Services LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Capital Asset Advisory Services LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,564 shares of the asset manager’s stock after selling 322 shares during the period. Capital Asset Advisory Services LLC’s holdings in Blackstone were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. West Financial Advisors LLC bought a new position in shares of Blackstone in the third quarter worth $27,000. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Blackstone during the fourth quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone in the second quarter worth about $39,000. Finally, Raleigh Capital Management Inc. grew its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX opened at $182.59 on Tuesday. The firm has a market cap of $131.83 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 1.22 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. The stock’s 50 day simple moving average is $180.90 and its 200 day simple moving average is $160.88.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, 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 note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average target price of $169.56.

About Blackstone

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.