7,412 Shares in Blackstone Inc. (NYSE:BX) Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,412 shares of the asset manager’s stock, valued at approximately $1,278,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC raised its position in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BX shares. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. UBS Group upped their target price 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. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction on 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.2 %

NYSE BX opened at $182.59 on Tuesday. The company has a fifty day simple moving average of $180.90 and a two-hundred day simple moving average of $160.88. The stock has a market cap of $131.83 billion, a P/E 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 company has a current ratio of 0.71, a quick 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.