VCI Wealth Management LLC Invests $1.28 Million in Blackstone Inc. (NYSE:BX)

VCI Wealth Management LLC bought a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,412 shares of the asset manager’s stock, valued at approximately $1,278,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AXA S.A. boosted its position in Blackstone by 17.6% during the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after buying an additional 5,214 shares during the period. AQR Capital Management LLC boosted its position in Blackstone by 123.6% during the second 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 period. Ascent Group LLC boosted its position in Blackstone by 55.0% during the second quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock valued at $971,000 after buying an additional 2,784 shares during the period. Creative Planning boosted its holdings in shares of Blackstone by 1.4% during the second quarter. Creative Planning now owns 228,268 shares of the asset manager’s stock worth $28,260,000 after purchasing an additional 3,120 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Blackstone by 19.0% during the second quarter. NewEdge Advisors LLC now owns 102,804 shares of the asset manager’s stock worth $12,727,000 after purchasing an additional 16,400 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 firm’s stock in a transaction that occurred on 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 owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.2 %

NYSE:BX opened at $182.59 on Tuesday. The company’s 50 day moving average price is $180.90 and its 200-day moving average price is $160.88. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. 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 stock has a market cap of $131.83 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 1.22 and a beta of 1.53.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BX. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI increased their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. 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 presently has a consensus rating of “Hold” and an average target price of $169.56.

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.