Transform Wealth LLC Grows Holdings in Blackstone Inc. (NYSE:BX)

Transform Wealth LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 61.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,527 shares of the asset manager’s stock after purchasing an additional 11,972 shares during the quarter. Transform Wealth LLC’s holdings in Blackstone were worth $5,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BX. Glen Eagle Advisors LLC grew its stake in shares of 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 during the last quarter. Investmark Advisory Group LLC increased its stake in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BX. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Trading Up 1.9 %

Blackstone stock opened at $180.00 on Tuesday. 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. The firm’s 50 day moving average price is $180.67 and its 200-day moving average price is $159.13. Blackstone Inc. has a 1 year low of $115.63 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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.