Heirloom Wealth Management Has $1.47 Million Stock Position in Blackstone Inc. (NYSE:BX)

Heirloom Wealth Management increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,505 shares of the asset manager’s stock after buying an additional 1,341 shares during the period. Blackstone accounts for about 0.4% of Heirloom Wealth Management’s investment portfolio, making the stock its 26th biggest holding. Heirloom Wealth Management’s holdings in Blackstone were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. West Wealth Group LLC acquired a new stake in Blackstone in the fourth quarter worth $224,000. Mount Yale Investment Advisors LLC lifted its holdings in shares of Blackstone by 153.8% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,066 shares of the asset manager’s stock valued at $873,000 after purchasing an additional 3,070 shares in the last quarter. Webster Bank N. A. increased its stake in Blackstone by 50.0% during the 4th quarter. Webster Bank N. A. now owns 282 shares of the asset manager’s stock worth $49,000 after purchasing an additional 94 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Blackstone by 8.1% in the fourth quarter. Pacer Advisors Inc. now owns 57,747 shares of the asset manager’s stock valued at $9,957,000 after buying an additional 4,339 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Blackstone during the fourth quarter worth $472,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $186.79 on Monday. The firm’s 50-day simple moving average is $180.90 and its 200 day simple moving average is $160.88. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a market cap of $134.86 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 1.22 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen raised 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. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. Finally, Barclays dropped 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. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target 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.