Curbstone Financial Management Corp Reduces Stock Position in Blackstone Inc. (NYSE:BX)

Curbstone Financial Management Corp cut its stake in shares of Blackstone Inc. (NYSE:BX) by 5.4% during the fourth quarter, HoldingsChannel reports. The firm owned 7,028 shares of the asset manager’s stock after selling 400 shares during the quarter. Curbstone Financial Management Corp’s holdings in Blackstone were worth $1,212,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BX. AXA S.A. raised its holdings in shares of Blackstone by 17.6% in the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock worth $4,305,000 after buying an additional 5,214 shares during the period. AQR Capital Management LLC boosted its stake in shares of Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after purchasing an additional 10,952 shares during the period. Ascent Group LLC increased its stake in Blackstone by 55.0% in the 2nd quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock worth $971,000 after buying an additional 2,784 shares during the period. Creative Planning boosted its position in Blackstone by 1.4% in the 2nd quarter. Creative Planning now owns 228,268 shares of the asset manager’s stock valued at $28,260,000 after buying an additional 3,120 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Blackstone by 19.0% during the 2nd quarter. NewEdge Advisors LLC now owns 102,804 shares of the asset manager’s stock worth $12,727,000 after acquiring an additional 16,400 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BX shares. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price 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. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Down 2.2 %

BX opened at $182.59 on Tuesday. The company has a market cap of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a 50-day moving average price of $180.90 and a 200 day moving average price of $160.88. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction 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 owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.