Southland Equity Partners LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

Southland Equity Partners LLC reduced its position in Blackstone Inc. (NYSE:BX) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,218 shares of the asset manager’s stock after selling 358 shares during the period. Southland Equity Partners LLC’s holdings in Blackstone were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at about $27,000. Bangor Savings Bank increased its holdings 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. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Blackstone during the second quarter worth $39,000. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the 3rd 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 during the period. Finally, Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley upped their target price 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. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Trading Up 1.5 %

Shares of Blackstone stock opened at $185.56 on Friday. The firm has a market cap of $133.98 billion, a PE ratio of 63.77, a P/E/G 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. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The business’s fifty day moving average is $180.71 and its two-hundred day moving average is $159.71.

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.