BankPlus Wealth Management LLC Takes Position in Blackstone Inc. (NYSE:BX)

BankPlus Wealth Management LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,165 shares of the asset manager’s stock, valued at approximately $546,000.

Several other institutional investors also recently modified their holdings of BX. Nilsine Partners LLC increased its position in shares of Blackstone by 4.0% in the 4th quarter. Nilsine Partners LLC now owns 2,723 shares of the asset manager’s stock valued at $470,000 after buying an additional 105 shares in the last quarter. Berkshire Bank bought a new stake in shares of Blackstone in the fourth quarter worth about $287,000. Lebenthal Global Advisors LLC lifted its holdings in shares of Blackstone by 10.9% during the 4th quarter. Lebenthal Global Advisors LLC now owns 6,595 shares of the asset manager’s stock valued at $1,137,000 after purchasing an additional 650 shares in the last quarter. Baldwin Wealth Partners LLC MA increased its stake in Blackstone by 0.4% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 243,683 shares of the asset manager’s stock worth $42,016,000 after purchasing an additional 928 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Blackstone by 17.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 49,666 shares of the asset manager’s stock worth $8,563,000 after buying an additional 7,446 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BX. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

NYSE:BX opened at $182.59 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $131.83 billion, a price-to-earnings ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock’s 50 day moving average price is $180.90 and its two-hundred day moving average price is $160.88.

Insider Buying and Selling 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 shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.