Red Door Wealth Management LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

Red Door Wealth Management LLC raised its position in Blackstone Inc. (NYSE:BX) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,518 shares of the asset manager’s stock after acquiring an additional 281 shares during the period. Red Door Wealth Management LLC’s holdings in Blackstone were worth $3,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sather Financial Group Inc lifted its stake in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at about $201,000. Aljian Capital Management LLC acquired a new position in Blackstone in the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC grew its holdings 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 purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after buying an additional 36,343 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the company’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 completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.5 %

Shares of Blackstone stock opened at $185.56 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a 50 day moving average of $180.71 and a 200 day moving average of $159.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $169.56.

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.