Heirloom Wealth Management Has $1.47 Million Position in Blackstone Inc. (NYSE:BX)

Heirloom Wealth Management lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,505 shares of the asset manager’s stock after buying an additional 1,341 shares during the period. Blackstone comprises approximately 0.4% of Heirloom Wealth Management’s investment portfolio, making the stock its 26th biggest position. Heirloom Wealth Management’s holdings in Blackstone were worth $1,466,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP boosted its position in Blackstone by 3,074.1% during the 2nd quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock worth $13,255,000 after buying an additional 103,691 shares during the period. AXA S.A. raised its position in Blackstone by 17.6% during the 2nd quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock worth $4,305,000 after purchasing an additional 5,214 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Blackstone by 123.6% in the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after buying an additional 10,952 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Blackstone in the second quarter worth approximately $350,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Blackstone by 87.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 78,109 shares of the asset manager’s stock worth $9,670,000 after purchasing an additional 36,445 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Piper Sandler boosted 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 target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays cut their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the company’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 transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Up 0.7 %

Blackstone stock opened at $186.79 on Monday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $180.90 and its 200 day simple moving average is $160.88. 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 stock has a market cap 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.

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.