Smallwood Wealth Investment Management LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

Smallwood Wealth Investment Management LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,281 shares of the asset manager’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cerro Pacific Wealth Advisors LLC acquired a new position in Blackstone during the fourth quarter worth about $237,000. Veracity Capital LLC grew its position in shares of Blackstone by 11.2% during the 4th quarter. Veracity Capital LLC now owns 3,672 shares of the asset manager’s stock worth $633,000 after buying an additional 371 shares during the period. Red Door Wealth Management LLC boosted its holdings in Blackstone by 1.5% in the fourth quarter. Red Door Wealth Management LLC now owns 19,518 shares of the asset manager’s stock worth $3,365,000 after acquiring an additional 281 shares in the last quarter. Capital Planning Advisors LLC increased its position in shares of Blackstone by 6.2% during the fourth quarter. Capital Planning Advisors LLC now owns 30,683 shares of the asset manager’s stock worth $5,290,000 after acquiring an additional 1,801 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Blackstone by 25.1% during the 4th quarter. Avior Wealth Management LLC now owns 2,822 shares of the asset manager’s stock worth $487,000 after acquiring an additional 566 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of several research analyst reports. Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup increased their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction 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 directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

Blackstone stock opened at $185.56 on Friday. The company has a market capitalization of $133.98 billion, a PE ratio of 63.77, a P/E/G ratio of 1.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a 50 day moving average price of $180.71 and a 200-day moving average price of $159.71.

About Blackstone

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.