SG Americas Securities LLC Sells 36,793 Shares of Blackstone Inc. (NYSE:BX)

SG Americas Securities LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 48.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,861 shares of the asset manager’s stock after selling 36,793 shares during the period. SG Americas Securities LLC’s holdings in Blackstone were worth $6,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the period. The Manufacturers Life Insurance Company increased its stake in Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after purchasing an additional 937,084 shares during the period. Mackenzie Financial Corp increased its stake in Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after purchasing an additional 912,685 shares during the period. Castleark Management LLC purchased a new stake in shares of Blackstone during the third quarter valued at $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

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 transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale 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 Stock Performance

Shares of BX stock opened at $186.79 on Friday. 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 of $180.79 and a 200 day moving average of $159.89. The firm has a market capitalization of $134.86 billion, a price-to-earnings ratio of 64.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $169.56.

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.