Blackstone Inc. (NYSE:BX) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,314 shares of the asset manager’s stock after buying an additional 200 shares during the period. Sheets Smith Wealth Management’s holdings in Blackstone were worth $1,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. West Financial Advisors LLC purchased a new position in shares of Blackstone during the third quarter worth about $27,000. Bangor Savings Bank lifted its stake in 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 buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone during the second quarter worth approximately $39,000. Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the 3rd 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 during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter worth $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group increased their price objective 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. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Price Performance

Shares of Blackstone stock opened at $181.52 on Wednesday. The company’s 50-day moving average price is $180.67 and its two-hundred day moving average price is $159.13. The stock has a market cap of $131.06 billion, a PE ratio of 62.38, a price-to-earnings-growth ratio of 1.20 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 Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

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.