Blackstone Inc. (NYSE:BX) Shares Purchased by Red Door Wealth Management LLC

Red Door Wealth Management LLC raised its position in Blackstone Inc. (NYSE:BX) by 1.5% in the 4th quarter, Holdings Channel reports. The fund owned 19,518 shares of the asset manager’s stock after acquiring an additional 281 shares during the period. Red Door Wealth Management LLC’s holdings in Blackstone were worth $3,365,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during 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. West Financial Advisors LLC purchased a new stake in Blackstone during the third quarter worth $27,000. Kieckhefer Group LLC purchased a new position in shares of Blackstone in the fourth quarter valued at $39,000. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

NYSE:BX opened at $185.56 on Friday. The stock has a fifty day moving average price of $180.71 and a 200-day moving average price of $159.71. The company has a market cap of $133.98 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BX shares. Evercore ISI lifted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company 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.