SteelPeak Wealth LLC Raises Position in Blackstone Inc. (NYSE:BX)

SteelPeak Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,032 shares of the asset manager’s stock after purchasing an additional 785 shares during the period. SteelPeak Wealth LLC’s holdings in Blackstone were worth $6,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bangor Savings Bank lifted its holdings in Blackstone by 187.5% during 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. West Financial Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the 4th quarter worth $34,000. Kieckhefer Group LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $39,000. Finally, 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 valued at $39,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BX shares. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 1.8 %

NYSE:BX opened at $185.73 on Wednesday. The company has a market cap of $134.10 billion, a PE ratio of 63.83, a P/E/G ratio of 1.22 and a beta of 1.53. The company has a current ratio of 0.71, a quick 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. The company’s 50 day moving average is $180.89 and its two-hundred day moving average is $161.27.

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.