Blackstone Inc. (NYSE:BX) Shares Sold by IRON Financial LLC

IRON Financial LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,998 shares of the asset manager’s stock after selling 158 shares during the period. IRON Financial LLC’s holdings in Blackstone were worth $517,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Blackstone during the third quarter worth about $67,472,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Blackstone by 7,917.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares in the last quarter. State Street Corp raised its stake in shares of Blackstone by 1.2% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $182.59 on Tuesday. The company has a fifty day moving average price of $180.90 and a 200 day moving average price of $160.88. The stock has a market cap of $131.83 billion, a P/E ratio of 62.75, 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. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Twelve research 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 stock presently has a consensus rating of “Hold” and an average target price of $169.56.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.