Segment Wealth Management LLC Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Segment Wealth Management LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 607.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 86,704 shares of the asset manager’s stock after acquiring an additional 74,444 shares during the quarter. Segment Wealth Management LLC’s holdings in Blackstone were worth $14,950,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Glen Eagle Advisors LLC boosted its holdings in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. increased 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 in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 2.7% during the third 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 during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 1.9 %

BX stock opened at $180.00 on Tuesday. The business’s 50-day moving average price is $180.73 and its 200-day moving average price is $158.74. The stock has a market cap of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.63 and a twelve month 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.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler upped 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. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Company 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.