Smallwood Wealth Investment Management LLC Invests $221,000 in Blackstone Inc. (NYSE:BX)

Smallwood Wealth Investment Management LLC bought a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,281 shares of the asset manager’s stock, valued at approximately $221,000.

Other hedge funds have also modified their holdings of the company. West Financial Advisors LLC bought a new position in Blackstone in the third quarter valued at approximately $27,000. Bangor Savings Bank boosted its position in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during 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 during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $39,000. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays reduced their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI increased their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Up 1.5 %

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

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.