IVC Wealth Advisors LLC Sells 553 Shares of Blackstone Inc. (NYSE:BX)

IVC Wealth Advisors LLC trimmed its stake in Blackstone Inc. (NYSE:BX) by 16.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,894 shares of the asset manager’s stock after selling 553 shares during the period. IVC Wealth Advisors LLC’s holdings in Blackstone were worth $499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in Blackstone by 2.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after buying an additional 1,036 shares during the period. Marshall Wace LLP raised its stake in Blackstone by 3,074.1% during the 2nd quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock valued at $13,255,000 after purchasing an additional 103,691 shares during the last quarter. Fred Alger Management LLC grew its position in Blackstone by 5.1% in the 2nd quarter. Fred Alger Management LLC now owns 57,851 shares of the asset manager’s stock worth $7,162,000 after purchasing an additional 2,818 shares during the last quarter. AXA S.A. lifted its stake in shares of Blackstone by 17.6% in the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after buying an additional 5,214 shares during the period. Finally, AQR Capital Management LLC increased its stake in Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after acquiring an additional 10,952 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BX shares. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lowered their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale 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 insiders.

Blackstone Price Performance

Shares of BX stock opened at $185.56 on Friday. The firm’s 50 day moving average price is $180.71 and its two-hundred day moving average price is $159.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $133.98 billion, a PE ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

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.