Dakota Wealth Management Increases Stake in Blackstone Inc. (NYSE:BX)

Dakota Wealth Management grew its stake in Blackstone Inc. (NYSE:BX) by 12.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,714 shares of the asset manager’s stock after buying an additional 4,157 shares during the quarter. Dakota Wealth Management’s holdings in Blackstone were worth $6,330,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. West Financial Advisors LLC purchased a new stake in Blackstone during the third quarter worth approximately $27,000. Bangor Savings Bank lifted its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the second quarter valued at approximately $39,000. Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $181.52 on Wednesday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a market capitalization of $131.06 billion, a P/E ratio of 62.38, a PEG ratio of 1.20 and a beta of 1.53. The business has a 50 day moving average price of $180.67 and a 200 day moving average price of $159.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BX shares. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Evercore ISI boosted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Twelve research 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, Blackstone currently has an average rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.