MCF Advisors LLC Has $120,000 Stock Position in Blackstone Inc. (NYSE:BX)

MCF Advisors LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 41.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699 shares of the asset manager’s stock after selling 504 shares during the period. MCF Advisors LLC’s holdings in Blackstone were worth $120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter valued at about $27,000. 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 valued at $28,000 after acquiring an additional 105 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the second quarter valued at approximately $39,000. 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. Finally, Kieckhefer Group LLC bought a new position in shares of Blackstone during the fourth quarter worth $39,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

BX opened at $182.70 on Thursday. 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 has a market capitalization of $131.91 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The business has a fifty day simple moving average of $180.68 and a 200 day simple moving average of $159.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Insider Activity

In related 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 sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Piper Sandler raised their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $169.56.

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.