IRON Financial LLC Cuts Stock Holdings in Blackstone Inc. (NYSE:BX)

IRON Financial LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,998 shares of the asset manager’s stock after selling 158 shares during the quarter. IRON Financial LLC’s holdings in Blackstone were worth $517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Financial Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at approximately $27,000. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone in the 2nd quarter worth about $39,000. Finally, Raleigh Capital Management Inc. lifted 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 acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 2.2 %

Shares of Blackstone stock opened at $182.59 on Tuesday. The stock has a market cap of $131.83 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 1.22 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. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a fifty day simple moving average of $180.90 and a 200-day simple moving average of $160.88.

Analyst Ratings Changes

BX has been the topic of a number of recent research reports. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays cut their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price 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.