Crossmark Global Holdings Inc. Reduces Stake in Blackstone Inc. (NYSE:BX)

Crossmark Global Holdings Inc. decreased its position in Blackstone Inc. (NYSE:BX) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 31,416 shares of the asset manager’s stock after selling 82 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Blackstone were worth $5,417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Ballentine Partners LLC raised its position in Blackstone by 63.4% during the fourth quarter. Ballentine Partners LLC now owns 19,149 shares of the asset manager’s stock worth $3,302,000 after acquiring an additional 7,431 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its position in shares of Blackstone by 5.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,861 shares of the asset manager’s stock worth $321,000 after purchasing an additional 99 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in Blackstone by 1.5% during the 4th quarter. Harbor Investment Advisory LLC now owns 39,014 shares of the asset manager’s stock valued at $6,727,000 after buying an additional 587 shares during the last quarter. Zhang Financial LLC raised its holdings in shares of Blackstone by 1.8% in the fourth quarter. Zhang Financial LLC now owns 9,567 shares of the asset manager’s stock worth $1,650,000 after acquiring an additional 171 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Blackstone by 13.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,806 shares of the asset manager’s stock valued at $829,000 after acquiring an additional 586 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $181.52 on Wednesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market capitalization of $131.06 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 1.20 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. The firm’s fifty day simple moving average is $180.67 and its 200 day simple moving average is $159.13.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’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 transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Company 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.