Register Financial Advisors LLC Sells 340 Shares of Blackstone Inc. (NYSE:BX)

Register Financial Advisors LLC reduced its position in Blackstone Inc. (NYSE:BX) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 22,464 shares of the asset manager’s stock after selling 340 shares during the period. Blackstone makes up 1.9% of Register Financial Advisors LLC’s holdings, making the stock its 9th biggest holding. Register Financial Advisors LLC’s holdings in Blackstone were worth $3,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Financial Advisors LLC purchased a new position in Blackstone in the third quarter worth $27,000. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone during the second quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. increased its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.7 %

Blackstone stock opened at $186.79 on Monday. The company’s 50-day moving average price is $180.90 and its two-hundred day moving average price is $160.62. 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 stock has a market cap of $134.86 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BX. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup increased their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

About Blackstone

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.