Daymark Wealth Partners LLC Decreases Stake in Blackstone Inc. (NYSE:BX)

Daymark Wealth Partners LLC lowered its position in Blackstone Inc. (NYSE:BX) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,226 shares of the asset manager’s stock after selling 695 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Blackstone were worth $3,143,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter valued at $27,000. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone during the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. grew its stake in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised 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 increased 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. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $181.52 on Wednesday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The firm has a market cap of $131.06 billion, a price-to-earnings ratio of 62.38, a P/E/G ratio of 1.20 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. The stock’s fifty day simple moving average is $180.68 and its 200 day simple moving average is $159.55.

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.