Triangle Securities Wealth Management Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Triangle Securities Wealth Management trimmed its position in Blackstone Inc. (NYSE:BX) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 47,618 shares of the asset manager’s stock after selling 2,653 shares during the period. Blackstone comprises approximately 2.1% of Triangle Securities Wealth Management’s holdings, making the stock its 10th largest holding. Triangle Securities Wealth Management’s holdings in Blackstone were worth $8,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glen Eagle Advisors LLC boosted its position in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. UBS Group increased their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Performance

Shares of Blackstone stock opened at $180.00 on Friday. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week high of $200.96. The firm has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a P/E/G 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 company’s 50 day moving average price is $180.73 and its two-hundred day moving average price is $158.24.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, equities analysts forecast that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Blackstone 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.