Stordahl Capital Management Inc. Buys New Shares in Blackstone Inc. (NYSE:BX)

Stordahl Capital Management Inc. purchased 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. The fund purchased 1,200 shares of the asset manager’s stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in BX. West Financial Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter worth $27,000. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the second quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. lifted its stake 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. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $185.73 on Thursday. The firm has a market capitalization of $134.10 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53. The stock’s 50 day moving average is $180.91 and its 200-day moving average is $161.67. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Sell-side analysts forecast that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. 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.com, the stock currently has a consensus rating of “Hold” and an average price target 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.