Allen Capital Group LLC Has $8.50 Million Stake in Blackstone Inc. (NYSE:BX)

Allen Capital Group LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,300 shares of the asset manager’s stock after selling 5,532 shares during the quarter. Blackstone makes up about 1.0% of Allen Capital Group LLC’s investment portfolio, making the stock its 25th largest position. Allen Capital Group LLC’s holdings in Blackstone were worth $8,500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $201,000. Aljian Capital Management LLC bought a new position in Blackstone during the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC increased its stake in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 0.1 %

BX stock opened at $185.79 on Wednesday. The firm has a market capitalization of $134.14 billion, a PE ratio of 63.92, a PEG ratio of 1.22 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 business’s 50 day simple moving average is $180.91 and its 200 day simple moving average is $161.67. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred 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 directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays lowered their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target 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.