Narwhal Capital Management Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Narwhal Capital Management reduced its position in shares of Blackstone Inc. (NYSE:BX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,128 shares of the asset manager’s stock after selling 1,448 shares during the period. Narwhal Capital Management’s holdings in Blackstone were worth $8,298,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC increased its holdings in Blackstone by 2.3% during the 3rd 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 during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Blackstone by 15,357.3% during the 3rd 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 buying an additional 4,173,971 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after acquiring an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Blackstone by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

BX stock opened at $186.79 on Monday. The company has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a PEG ratio of 1.22 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 company has a 50-day simple moving average of $180.90 and a 200 day simple moving average of $160.62. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. 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 report on Monday, December 9th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. Finally, Barclays cut their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Twelve 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, the company presently has an average rating of “Hold” and an average price target of $169.56.

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.