Amplius Wealth Advisors LLC Sells 1,012 Shares of Blackstone Inc. (NYSE:BX)

by · The Markets Daily

Amplius Wealth Advisors LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX – Free Report) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 127,902 shares of the asset manager’s stock after selling 1,012 shares during the quarter. Blackstone comprises 2.3% of Amplius Wealth Advisors LLC’s portfolio, making the stock its 15th largest holding. Amplius Wealth Advisors LLC’s holdings in Blackstone were worth $22,053,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. West Financial Advisors LLC bought a new position in Blackstone in the third quarter worth $27,000. Kieckhefer Group LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $39,000. Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BX. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.56.

View Our Latest Research Report on BX

Blackstone Trading Up 1.9 %

NYSE:BX opened at $180.00 on Tuesday. The firm has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $180.73 and a 200-day moving average price of $158.74. Blackstone Inc. has a one year low of $115.63 and a one year high of $200.96.

Insider Transactions at Blackstone

In related 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 transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).