Veracity Capital LLC Increases Position in Blackstone Inc. (NYSE:BX)

Veracity Capital LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,672 shares of the asset manager’s stock after purchasing an additional 371 shares during the period. Veracity Capital LLC’s holdings in Blackstone were worth $633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sather Financial Group Inc lifted its stake in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Blackstone during the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC lifted its position in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Blackstone by 3.2% during the third 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 during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Wells Fargo & Company decreased their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently 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 stock in a transaction dated 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 directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.5 %

BX stock opened at $185.56 on Friday. The company’s 50-day moving average price is $180.71 and its 200 day moving average price is $159.71. Blackstone Inc. has a 52 week low of $115.82 and a 52 week 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. The company has a market cap of $133.98 billion, a P/E ratio of 63.77, a P/E/G ratio of 1.21 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.