Amplius Wealth Advisors LLC Has $22.05 Million Stock Position in Blackstone Inc. (NYSE:BX)

Amplius Wealth Advisors LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,902 shares of the asset manager’s stock after selling 1,012 shares during the quarter. Blackstone accounts for approximately 2.3% of Amplius Wealth Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Amplius Wealth Advisors LLC’s holdings in Blackstone were worth $22,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC bought a new position in shares of Blackstone during the third quarter valued at about $27,000. Bangor Savings Bank boosted its stake 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 buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone during the second quarter valued at approximately $39,000. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% in the third 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, Kieckhefer Group LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $39,000. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on BX. Bank of America raised their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Price Performance

BX opened at $180.00 on Tuesday. The stock has a 50-day moving average price of $180.73 and a 200-day moving average price of $158.74. The stock has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.