Blackstone Inc. (NYSE:BX) Position Reduced by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 59,472 shares of the asset manager’s stock after selling 2,966 shares during the quarter. Blackstone accounts for about 1.9% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 15th biggest holding. B & T Capital Management DBA Alpha Capital Management’s holdings in Blackstone were worth $10,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Glen Eagle Advisors LLC lifted its position in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC boosted its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC increased its position in Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $180.00 on Friday. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96. The stock has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $180.68 and its 200 day simple moving average is $157.84.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

BX has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $169.56.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

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.