Annex Advisory Services LLC Has $942,000 Stake in Blackstone Inc. (NYSE:BX)

Annex Advisory Services LLC trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,461 shares of the asset manager’s stock after selling 260 shares during the period. Annex Advisory Services LLC’s holdings in Blackstone were worth $942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Blackstone by 3.5% during the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after purchasing an additional 2,002 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Blackstone by 1.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,770 shares of the asset manager’s stock worth $1,457,000 after acquiring an additional 175 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Blackstone by 100.5% in the 2nd quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock valued at $1,253,000 after acquiring an additional 5,072 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Blackstone by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock valued at $6,313,000 after purchasing an additional 2,206 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock worth $5,524,000 after purchasing an additional 1,036 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 firms have recently issued reports on BX. BMO Capital Markets raised their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Wells Fargo & Company lowered their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

Shares of NYSE:BX opened at $180.00 on Tuesday. The company’s 50 day simple moving average is $180.73 and its 200 day simple moving average is $158.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The stock has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of Blackstone 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.