Mitchell & Pahl Private Wealth LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Mitchell & Pahl Private Wealth LLC lowered its holdings in Blackstone Inc. (NYSE:BXFree Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,071 shares of the asset manager’s stock after selling 810 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Blackstone were worth $2,254,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth about $27,000. Bangor Savings Bank increased its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the second quarter worth $39,000. Raleigh Capital Management Inc. increased its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.9 %

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

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. TD Cowen upgraded 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. Finally, Citigroup raised their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $169.56.

Get Our Latest Analysis on BX

Blackstone Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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