Orca Wealth Management LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Orca Wealth Management LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,280 shares of the asset manager’s stock, valued at approximately $2,979,000. Blackstone accounts for 2.7% of Orca Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Glen Eagle Advisors LLC lifted its stake in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Investmark Advisory Group LLC raised its stake in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC grew its holdings in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BX. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley raised their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets raised 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. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Price Performance

Shares of NYSE BX opened at $185.73 on Wednesday. The business’s 50 day moving average price is $180.89 and its 200 day moving average price is $161.27. The firm has a market cap of $134.10 billion, a P/E ratio of 63.83, a P/E/G ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

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.