MFA Wealth Services Invests $814,000 in Blackstone Inc. (NYSE:BX)

MFA Wealth Services purchased a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, Holdings Channel reports. The fund purchased 4,721 shares of the asset manager’s stock, valued at approximately $814,000.

A number of other large investors also recently modified their holdings of the company. Sather Financial Group Inc raised its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone during the third quarter worth approximately $201,000. Aljian Capital Management LLC purchased a new position in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC boosted its holdings in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after acquiring an additional 36,343 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 1.5 %

BX stock opened at $185.56 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The firm 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’s 50 day simple moving average is $180.71 and its 200-day simple moving average is $159.71.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Barclays cut their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus 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 dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.