SteelPeak Wealth LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

SteelPeak Wealth LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,032 shares of the asset manager’s stock after purchasing an additional 785 shares during the period. SteelPeak Wealth LLC’s holdings in Blackstone were worth $6,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Orca Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $2,979,000. BSW Wealth Partners raised its holdings in shares of Blackstone by 36.1% during the fourth quarter. BSW Wealth Partners now owns 6,196 shares of the asset manager’s stock valued at $1,068,000 after acquiring an additional 1,642 shares during the last quarter. Aspire Capital Advisors LLC acquired a new stake in shares of Blackstone in the fourth quarter worth approximately $215,000. VCI Wealth Management LLC acquired a new position in Blackstone in the 4th quarter valued at $1,278,000. Finally, BankPlus Wealth Management LLC acquired a new stake in Blackstone during the 4th quarter worth $546,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BX. Evercore ISI boosted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods cut their price target on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley upped 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, JPMorgan Chase & Co. lifted their target price 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. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

BX stock opened at $185.73 on Wednesday. The business’s fifty day moving average price is $180.89 and its 200 day moving average price is $161.27. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a market capitalization of $134.10 billion, a PE ratio of 63.83, a P/E/G 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.

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.