West Wealth Group LLC Invests $224,000 in Blackstone Inc. (NYSE:BX)

West Wealth Group LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,301 shares of the asset manager’s stock, valued at approximately $224,000.

A number of other hedge funds have also bought and sold shares of the company. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at $27,000. Bangor Savings Bank increased 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 purchasing an additional 105 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of Blackstone during the 4th quarter worth about $34,000. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the 2nd quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. raised its holdings 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 acquiring an additional 62 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 0.7 %

Shares of BX stock opened at $186.79 on Monday. The company has a market capitalization of $134.86 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 1.22 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. The business’s fifty day moving average is $180.90 and its 200 day moving average is $160.88. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.