Sound Income Strategies LLC Has $163,000 Position in Blackstone Inc. (NYSE:BX)

Sound Income Strategies LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 23.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 944 shares of the asset manager’s stock after buying an additional 181 shares during the period. Sound Income Strategies LLC’s holdings in Blackstone were worth $163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. 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 in the last quarter. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at $27,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $39,000. Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the firm’s 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 completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on BX. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. increased 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. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

Shares of BX opened at $186.79 on Friday. 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 firm has a fifty day simple moving average of $180.79 and a 200 day simple moving average of $159.89. The stock has a market capitalization of $134.86 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53.

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.